Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by New York State Teachers Retirement System

Posted by Defense World Staff on Jul 20th, 2023

New York State Teachers Retirement System lessened its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 193,979 shares of the transportation company’s stock after selling 10,675 shares during the period. New York State Teachers Retirement System owned 0.12% of Knight-Swift Transportation worth $10,975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of KNX. Raymond James & Associates raised its position in shares of Knight-Swift Transportation by 22.1% during the 1st quarter. Raymond James & Associates now owns 76,395 shares of the transportation company’s stock worth $3,855,000 after purchasing an additional 13,808 shares during the last quarter. US Bancorp DE raised its holdings in Knight-Swift Transportation by 57.6% in the 1st quarter. US Bancorp DE now owns 14,450 shares of the transportation company’s stock valued at $729,000 after acquiring an additional 5,283 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Knight-Swift Transportation by 23.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the transportation company’s stock valued at $706,000 after acquiring an additional 2,677 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in Knight-Swift Transportation by 3.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 211,351 shares of the transportation company’s stock valued at $11,126,000 after acquiring an additional 7,824 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Knight-Swift Transportation by 6.7% in the 1st quarter. Sei Investments Co. now owns 141,380 shares of the transportation company’s stock valued at $7,135,000 after acquiring an additional 8,923 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Knight-Swift Transportation Price Performance

Shares of KNX opened at $56.37 on Thursday. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.63 and a twelve month high of $64.35. The firm’s fifty day simple moving average is $55.51 and its 200-day simple moving average is $56.36. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.22 and a beta of 1.13. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last announced its quarterly earnings data on Thursday, April 20th. The transportation company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). Knight-Swift Transportation had a net margin of 9.22% and a return on equity of 10.42%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business posted $1.35 earnings per share. Knight-Swift Transportation’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.96 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 27th. Investors of record on Friday, June 9th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, June 8th. This represents a $0.56 annualized dividend and a yield of 0.99%. Knight-Swift Transportation’s dividend payout ratio is currently 13.59%.

Wall Street Analyst Weigh In

KNX has been the subject of several analyst reports. Bank of America dropped their price target on shares of 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. Credit Suisse Group cut shares of Knight-Swift Transportation from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $63.00 to $60.00 in a research note on Wednesday, May 17th. Susquehanna increased their price target on shares of Knight-Swift Transportation from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, April 21st. Citigroup dropped their price target on shares of Knight-Swift Transportation from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, June 30th. Finally, Raymond James dropped their price target on shares of Knight-Swift Transportation from $63.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.59.

Insider Buying and Selling

In related news, VP Dustin Ohlman sold 1,300 shares of Knight-Swift Transportation stock in a transaction 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 directly owns 137 shares in the company, valued at approximately $7,685.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Kevin P. Knight sold 64,139 shares of Knight-Swift Transportation stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $56.59, for a total transaction of $3,629,626.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Dustin Ohlman sold 1,300 shares of Knight-Swift Transportation stock in a transaction 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 completion of the transaction, the vice president now owns 137 shares in the company, valued at $7,685.70. The disclosure for this sale can be found here. Insiders have sold 71,516 shares of company stock worth $4,047,808 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Knight-Swift Transportation 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.