Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 10.6% in the third quarter, HoldingsChannel.com reports. The firm owned 19,556,978 shares of the transportation company’s stock after selling 2,327,220 shares during the period. Wellington Management Group LLP owned about 0.12% of Knight-Swift Transportation worth $1,055,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of KNX. Deseret Mutual Benefit Administrators grew its position in Knight-Swift Transportation by 87.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after purchasing an additional 348 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after buying an additional 200 shares during the last quarter. Blue Trust Inc. boosted its holdings in Knight-Swift Transportation by 168.3% during the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 579 shares during the period. GAMMA Investing LLC increased its position in Knight-Swift Transportation by 36.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock worth $61,000 after buying an additional 302 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Knight-Swift Transportation by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 292 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KNX shares. The Goldman Sachs Group dropped their price objective on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Raymond James raised their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Monday, October 14th. Morgan Stanley dropped their price objective on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. TD Cowen upped their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Barclays raised their price objective on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.38.

Knight-Swift Transportation Trading Down 1.0 %

Shares of KNX opened at $55.50 on Friday. The firm’s 50-day moving average price is $54.60 and its 200-day moving average price is $51.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 241.31, a PEG ratio of 1.94 and a beta of 0.96. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.55 and a 1-year high of $60.99.

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

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. Knight-Swift Transportation’s payout ratio is currently 278.27%.

Insider Transactions at Knight-Swift Transportation

In other news, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total value of $1,703,061.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

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.