ETF Managers Group LLC purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,688 shares of the transportation company’s stock, valued at approximately $378,000.
A number of other institutional investors also recently made changes to their positions in KNX. Norges Bank purchased a new stake in shares of Knight-Swift Transportation in the 4th quarter valued at $90,026,000. Anomaly Capital Management LP purchased a new stake in Knight-Swift Transportation during the 4th quarter valued at $62,425,000. Ceredex Value Advisors LLC purchased a new stake in Knight-Swift Transportation during the 4th quarter valued at $62,413,000. Wellington Management Group LLP boosted its position in Knight-Swift Transportation by 13.4% during the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock valued at $414,739,000 after buying an additional 972,139 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Knight-Swift Transportation by 94.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock valued at $85,249,000 after buying an additional 892,933 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on KNX. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $66.00 in a research report on Monday, May 22nd. Credit Suisse Group cut shares of Knight-Swift Transportation from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $63.00 to $60.00 in a research report on Wednesday, May 17th. Wolfe Research raised shares of Knight-Swift Transportation from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Wednesday, March 22nd. Morgan Stanley dropped their target price on shares of Knight-Swift Transportation from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, April 21st. Finally, Bank of America dropped their target price on shares of Knight-Swift Transportation from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.35.
Knight-Swift Transportation Stock Performance
Knight-Swift Transportation (NYSE:KNX – Free Report) last announced its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Knight-Swift Transportation had a net margin of 9.22% and a return on equity of 10.42%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 EPS. As a group, analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 3.27 EPS for the current year.
Knight-Swift Transportation Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 27th. Investors of record on Friday, June 9th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Thursday, June 8th. Knight-Swift Transportation’s payout ratio is 13.59%.
Insider Buying and Selling
In other Knight-Swift Transportation news, VP Dustin Ohlman sold 1,300 shares of Knight-Swift Transportation stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $56.10, for a total transaction of $72,930.00. Following the transaction, the vice president now owns 137 shares of the company’s stock, valued at $7,685.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Timothy Sean Harrington sold 1,700 shares of Knight-Swift Transportation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $56.98, for a total transaction of $96,866.00. Following the sale, the executive vice president now owns 4,582 shares in the company, valued at $261,082.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Dustin Ohlman sold 1,300 shares of Knight-Swift Transportation stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $56.10, for a total transaction of $72,930.00. Following the sale, the vice president now owns 137 shares in the company, valued at approximately $7,685.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,516 shares of company stock valued at $4,047,808. 3.10% of the stock is owned by insiders.
About Knight-Swift Transportation
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 transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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