Geode Capital Management LLC Buys 46,436 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Geode Capital Management LLC lifted its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,740,873 shares of the transportation company’s stock after buying an additional 46,436 shares during the quarter. Geode Capital Management LLC owned about 1.69% of Knight-Swift Transportation worth $147,529,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KNX. Victory Capital Management Inc. grew its position in shares of 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 valued at $379,133,000 after acquiring an additional 744,412 shares during the period. Dimensional Fund Advisors LP lifted its stake in Knight-Swift Transportation by 27.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock valued at $271,121,000 after purchasing an additional 1,176,069 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Knight-Swift Transportation by 13.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock worth $219,870,000 after purchasing an additional 467,647 shares during the period. Ceredex Value Advisors LLC grew its holdings in Knight-Swift Transportation by 3.6% during the second quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock worth $81,729,000 after purchasing an additional 57,493 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Knight-Swift Transportation by 34.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock worth $76,224,000 after buying an additional 359,566 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KNX. Citigroup cut Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a research report on Tuesday, November 12th. TD Cowen raised their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley decreased their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Bank of America increased their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.81.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX opened at $54.92 on Tuesday. The business has a fifty day moving average price of $55.10 and a two-hundred day moving average price of $52.38. The stock has a market capitalization of $8.89 billion, a PE ratio of 238.79, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week 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. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. Knight-Swift Transportation’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. As a group, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 1.17%. Knight-Swift Transportation’s dividend payout ratio is 278.27%.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was 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 $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’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.

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.