Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Stake Raised by Quarry LP

Quarry LP grew its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 71.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,201 shares of the transportation company’s stock after purchasing an additional 499 shares during the period. Quarry LP’s holdings in Knight-Swift Transportation were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in KNX. Deseret Mutual Benefit Administrators lifted its stake in Knight-Swift Transportation by 87.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after buying an additional 200 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Knight-Swift Transportation by 168.3% during the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 579 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Knight-Swift Transportation by 36.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock worth $61,000 after acquiring an additional 302 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Knight-Swift Transportation by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock worth $62,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Trading Up 0.9 %

Shares of NYSE KNX opened at $55.99 on Tuesday. The business has a 50 day simple moving average of $54.64 and a 200 day simple moving average of $52.07. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $60.99. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 243.45, a PEG ratio of 1.90 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, research analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.14%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 278.27%.

Insiders Place Their Bets

In other news, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the transaction, the director now owns 30,729 shares of the company’s stock, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Raymond James upped their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a report on Monday, October 14th. TD Cowen upped their price objective on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Citigroup lowered shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target on the stock. in a report on Tuesday, November 12th. Finally, Susquehanna raised their price objective on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.38.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.