Centre Asset Management LLC Takes Position in Knight-Swift Transportation Holdings Inc (KNX)
Centre Asset Management LLC acquired a new position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 171,230 shares of the transportation company’s stock, valued at approximately $5,596,000. Centre Asset Management LLC owned about 0.10% of Knight-Swift Transportation at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. raised its holdings in shares of Knight-Swift Transportation by 10.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,650 shares of the transportation company’s stock valued at $117,000 after purchasing an additional 450 shares during the period. Campbell Newman Asset Management Inc. raised its holdings in shares of Knight-Swift Transportation by 2.4% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 19,167 shares of the transportation company’s stock valued at $626,000 after purchasing an additional 457 shares during the period. Wright Investors Service Inc. raised its holdings in shares of Knight-Swift Transportation by 5.5% in the 4th quarter. Wright Investors Service Inc. now owns 10,448 shares of the transportation company’s stock valued at $262,000 after purchasing an additional 548 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Knight-Swift Transportation by 2.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 29,200 shares of the transportation company’s stock valued at $732,000 after purchasing an additional 600 shares during the period. Finally, Formidable Asset Management LLC raised its holdings in Knight-Swift Transportation by 1.9% in the 4th quarter. Formidable Asset Management LLC now owns 34,034 shares of the transportation company’s stock valued at $853,000 after acquiring an additional 640 shares during the period. Institutional investors own 82.56% of the company’s stock.
In related news, Vice Chairman Gary J. Knight sold 180,368 shares of Knight-Swift Transportation stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $33.18, for a total transaction of $5,984,610.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Shannon Breen sold 1,000 shares of Knight-Swift Transportation stock in a transaction on Friday, March 15th. The stock was sold at an average price of $34.82, for a total transaction of $34,820.00. The disclosure for this sale can be found here. Insiders have sold 336,828 shares of company stock valued at $11,196,519 in the last ninety days. Insiders own 27.50% of the company’s stock.
Shares of KNX stock traded up $1.00 during trading hours on Wednesday, hitting $34.58. 73,913 shares of the company’s stock traded hands, compared to its average volume of 1,869,294. The company has a market capitalization of $5.81 billion, a P/E ratio of 13.50, a PEG ratio of 0.82 and a beta of 1.92. Knight-Swift Transportation Holdings Inc has a 12 month low of $23.27 and a 12 month high of $44.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.48 and a current ratio of 1.48.
Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Tuesday, January 29th. The transportation company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.01. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.44 billion. Knight-Swift Transportation had a net margin of 7.85% and a return on equity of 8.46%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Monday, March 4th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, March 1st. Knight-Swift Transportation’s payout ratio is currently 9.38%.
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Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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