Victory Capital Management Inc. Sells 121,199 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Victory Capital Management Inc. cut its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,473,618 shares of the transportation company’s stock after selling 121,199 shares during the period. Victory Capital Management Inc.’s holdings in Knight-Swift Transportation were worth $403,202,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KNX. Virtu Financial LLC purchased a new position in Knight-Swift Transportation in the first quarter valued at about $1,935,000. Wedge Capital Management L L P NC raised its stake in shares of Knight-Swift Transportation by 9.0% in the second quarter. Wedge Capital Management L L P NC now owns 263,033 shares of the transportation company’s stock valued at $13,131,000 after buying an additional 21,689 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Knight-Swift Transportation by 21.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,821 shares of the transportation company’s stock valued at $4,942,000 after buying an additional 15,600 shares during the last quarter. Swedbank AB bought a new stake in Knight-Swift Transportation in the 1st quarter valued at about $3,162,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Knight-Swift Transportation by 12.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 133,178 shares of the transportation company’s stock valued at $7,328,000 after purchasing an additional 15,040 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Down 3.8 %

Shares of NYSE:KNX traded down $2.23 during trading hours on Tuesday, hitting $56.65. The company’s stock had a trading volume of 648,219 shares, compared to its average volume of 2,065,718. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 256.00, a P/E/G ratio of 2.17 and a beta of 0.93. The firm’s fifty day moving average price is $52.70 and its 200 day moving average price is $50.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $60.99.

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

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 278.26%.

Insider Activity

In related news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the sale, the director now directly owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Barclays increased their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group decreased 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 research report on Wednesday, October 9th. Finally, Citigroup cut Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a report on Tuesday. 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 stock. According to MarketBeat, Knight-Swift Transportation presently has an average rating of “Hold” and a consensus price target of $56.00.

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.