Oppenheimer Asset Management Inc. Increases Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Oppenheimer Asset Management Inc. increased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 0.8% in the third quarter, Holdings Channel reports. The firm owned 74,134 shares of the transportation company’s stock after acquiring an additional 609 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Knight-Swift Transportation were worth $4,000,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KNX. Interval Partners LP boosted its position in Knight-Swift Transportation by 8,520.1% during the 2nd quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock worth $64,547,000 after purchasing an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Knight-Swift Transportation by 1,728.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock worth $66,440,000 after buying an additional 1,258,157 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Knight-Swift Transportation by 27.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after buying an additional 1,176,069 shares in the last quarter. Millennium Management LLC lifted its holdings in Knight-Swift Transportation by 309.7% in the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after buying an additional 807,572 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Knight-Swift Transportation by 10.9% in the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after buying an additional 744,412 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the transaction, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. This represents a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction dated 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. 3.00% of the stock is owned by insiders.

Knight-Swift Transportation Price Performance

KNX opened at $55.63 on Friday. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 241.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The company’s 50-day moving average price is $52.97 and its 200 day moving average price is $50.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. Knight-Swift Transportation’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 278.27%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KNX. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a report on Thursday, July 25th. The Goldman Sachs Group cut their price objective on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Bank of America boosted their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Susquehanna boosted their price objective on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, TD Cowen upped their target price 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.38.

Knight-Swift Transportation 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.