B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 69,120 shares of the transportation company's stock, valued at approximately $3,729,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Interval Partners LP raised its stake in shares of Knight-Swift Transportation by 8,520.1% during the 2nd quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company's stock worth $64,547,000 after buying an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Knight-Swift Transportation by 1,728.8% during the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company's stock worth $66,440,000 after purchasing an additional 1,258,157 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Knight-Swift Transportation by 27.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company's stock worth $271,121,000 after purchasing an additional 1,176,069 shares during the last quarter. Millennium Management LLC lifted its stake in Knight-Swift Transportation by 309.7% in the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company's stock valued at $53,331,000 after buying an additional 807,572 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Knight-Swift Transportation by 10.9% in the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company's stock worth $379,133,000 after buying an additional 744,412 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:KNX opened at $56.00 on Thursday. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 243.48, a PEG ratio of 1.90 and a beta of 0.93. The business has a 50-day moving average price of $53.41 and a 200 day moving average price of $51.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31.
Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The company's revenue was down 7.1% on a year-over-year basis. Sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current year.
The firm also recently disclosed 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 1.14%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation's payout ratio is 278.26%.
In related news, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the transaction, the director now directly owns 30,729 shares in the company, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.
KNX has been the subject of a number of research analyst reports. Raymond James increased their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a "strong-buy" rating in a report on Monday, October 14th. Evercore ISI raised their price objective on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. Citigroup cut shares of Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 target price on the stock. in a research note on Tuesday, November 12th. Morgan Stanley reduced their target price on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Knight-Swift Transportation has an average rating of "Hold" and a consensus target price of $56.38.
Read Our Latest Research Report on KNX
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.
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