Massachusetts Financial Services Co. MA Lowers Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Massachusetts Financial Services Co. MA decreased its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 4.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,773,861 shares of the transportation company’s stock after selling 124,508 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Knight-Swift Transportation were worth $149,650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Knight-Swift Transportation by 3,461.9% during the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after purchasing an additional 727 shares during the period. Deseret Mutual Benefit Administrators increased its stake in Knight-Swift Transportation by 87.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 200 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Knight-Swift Transportation by 50.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after buying an additional 343 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock worth $51,000 after buying an additional 579 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analysts Set New Price Targets

KNX has been the topic of several recent analyst reports. TD Cowen increased their price objective on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays lifted their price target on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Raymond James increased their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 14th. The Goldman Sachs Group dropped their price target on 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. Finally, Susquehanna increased their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Knight-Swift Transportation has an average rating of “Hold” and an average target price of $56.38.

Insider Buying and Selling

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

Knight-Swift Transportation Trading Up 2.5 %

NYSE:KNX opened at $57.62 on Friday. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 250.53, a price-to-earnings-growth ratio of 1.92 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $53.59 and its 200 day simple moving average is $51.36.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $0.41 EPS. The business’s revenue was down 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared 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 of this dividend is Friday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. Knight-Swift Transportation’s payout ratio is 278.27%.

Knight-Swift Transportation 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.