UBS Asset Management Americas Inc. raised its position in shares of Knight Transportation, Inc. (NYSE:KNX) by 24.0% during the third quarter, Holdings Channel reports. The institutional investor owned 41,514 shares of the company’s stock after buying an additional 8,037 shares during the period. UBS Asset Management Americas Inc. owned 0.05% of Knight Transportation worth $1,191,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KNX. Norris Perne & French LLP MI boosted its position in Knight Transportation by 3.9% in the third quarter. Norris Perne & French LLP MI now owns 156,878 shares of the company’s stock worth $4,501,000 after buying an additional 5,851 shares in the last quarter. OLD National Bancorp IN acquired a new position in Knight Transportation during the third quarter worth about $259,000. Louisiana State Employees Retirement System boosted its position in Knight Transportation by 8.5% in the third quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the company’s stock worth $841,000 after buying an additional 2,300 shares in the last quarter. Arizona State Retirement System boosted its position in Knight Transportation by 8.5% in the third quarter. Arizona State Retirement System now owns 34,310 shares of the company’s stock worth $984,000 after buying an additional 2,700 shares in the last quarter. Finally, PineBridge Investments L.P. boosted its position in Knight Transportation by 3.2% in the second quarter. PineBridge Investments L.P. now owns 7,731 shares of the company’s stock worth $205,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.

Institutional Ownership by Quarter for Knight Transportation (NYSE:KNX)

Shares of Knight Transportation, Inc. (NYSE:KNX) traded up 1.93% during midday trading on Friday, reaching $34.35. The company’s stock had a trading volume of 930,953 shares. The company’s 50-day moving average price is $34.62 and its 200 day moving average price is $30.33. Knight Transportation, Inc. has a 12-month low of $20.94 and a 12-month high of $38.80. The company has a market capitalization of $2.75 billion, a P/E ratio of 27.90 and a beta of 0.80.

Knight Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $280.50 million for the quarter, compared to analyst estimates of $279.34 million. Knight Transportation had a return on equity of 13.37% and a net margin of 8.92%. The company’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 EPS. On average, equities research analysts forecast that Knight Transportation, Inc. will post $1.18 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 27th. Stockholders of record on Friday, December 2nd were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, November 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.70%. Knight Transportation’s dividend payout ratio (DPR) is presently 19.35%.

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A number of research analysts have issued reports on the company. Stifel Nicolaus cut Knight Transportation from a “buy” rating to a “hold” rating and lifted their target price for the company from $26.00 to $30.00 in a research report on Friday, December 16th. Seaport Global Securities started coverage on Knight Transportation in a research report on Sunday, December 18th. They issued a “buy” rating and a $42.00 target price on the stock. Stephens lowered Knight Transportation from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 4th. Zacks Investment Research raised Knight Transportation from a “sell” rating to a “hold” rating in a research note on Saturday, November 5th. Finally, Deutsche Bank AG started coverage on Knight Transportation in a research note on Wednesday, November 2nd. They set a “hold” rating and a $32.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.28.

About Knight Transportation

Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. The Company operates primarily in the United States with minor operations in Canada and Mexico.

5 Day Chart for NYSE:KNX

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