Machina Capital S.A.S. Purchases Shares of 2,200 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Posted by Defense World Staff on Jul 11th, 2023

Machina Capital S.A.S. purchased a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,200 shares of the transportation company’s stock, valued at approximately $124,000.

A number of other hedge funds also recently bought and sold shares of KNX. Fifth Third Bancorp lifted its stake in Knight-Swift Transportation by 42.4% in the fourth quarter. Fifth Third Bancorp now owns 594 shares of the transportation company’s stock valued at $31,000 after buying an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Knight-Swift Transportation by 543.2% in the first quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock valued at $47,000 after buying an additional 793 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Knight-Swift Transportation in the fourth quarter valued at approximately $55,000. Ronald Blue Trust Inc. lifted its stake in Knight-Swift Transportation by 159.2% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,488 shares of the transportation company’s stock valued at $72,000 after buying an additional 914 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its stake in Knight-Swift Transportation by 46.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,502 shares of the transportation company’s stock valued at $79,000 after buying an additional 476 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Insiders Place Their Bets

In other Knight-Swift Transportation news, SVP Dustin Ohlman sold 1,296 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $56.91, for a total transaction of $73,755.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Timothy Sean Harrington sold 1,700 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $56.98, for a total value of $96,866.00. Following the sale, the executive vice president now directly owns 4,582 shares in the company, valued at $261,082.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dustin Ohlman sold 1,296 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $56.91, for a total value of $73,755.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,516 shares of company stock worth $4,047,808. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KNX. Bank of America reduced their price objective on Knight-Swift Transportation from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, April 21st. TD Cowen reduced their price objective on Knight-Swift Transportation from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. Susquehanna boosted their target price on Knight-Swift Transportation from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, April 21st. Credit Suisse Group lowered Knight-Swift Transportation from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $63.00 to $60.00 in a report on Wednesday, May 17th. Finally, Stephens reissued an “overweight” rating and issued a $70.00 target price on shares of Knight-Swift Transportation in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.35.

Knight-Swift Transportation Trading Up 1.5 %

Shares of KNX stock opened at $55.56 on Tuesday. The business’s fifty day moving average price is $55.73 and its 200 day moving average price is $56.22. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.63 and a 1-year high of $64.35. The firm has a market capitalization of $8.95 billion, a PE ratio of 13.49, a P/E/G ratio of 1.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.59 and a quick ratio of 1.59.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last posted its earnings results on Thursday, April 20th. The transportation company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Knight-Swift Transportation had a return on equity of 10.42% and a net margin of 9.22%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 earnings per share. As a group, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 3.13 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 27th. Shareholders of record on Friday, June 9th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $0.56 dividend on an annualized basis and a yield of 1.01%. Knight-Swift Transportation’s payout ratio is 13.59%.

Knight-Swift Transportation Company Profile

(Free Report)

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.