Edgestream Partners L.P. Purchases New Shares in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Edgestream Partners L.P. acquired a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 53,666 shares of the transportation company’s stock, valued at approximately $2,440,000.

Several other institutional investors have also bought and sold shares of KNX. Asahi Life Asset Management CO. LTD. bought a new position in shares of Knight-Swift Transportation in the 2nd quarter valued at about $340,000. Gulf International Bank UK Ltd boosted its holdings in shares of Knight-Swift Transportation by 22.3% in the 2nd quarter. Gulf International Bank UK Ltd now owns 23,986 shares of the transportation company’s stock worth $1,090,000 after purchasing an additional 4,368 shares during the period. Empirical Finance LLC bought a new position in shares of Knight-Swift Transportation during the 2nd quarter valued at approximately $888,000. Ethic Inc. bought a new stake in Knight-Swift Transportation in the second quarter worth $311,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Knight-Swift Transportation by 14.7% during the second quarter. BNP Paribas Arbitrage SA now owns 211,807 shares of the transportation company’s stock worth $9,629,000 after buying an additional 27,180 shares during the period. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Shares of KNX stock opened at $51.72 on Wednesday. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $37.07 and a fifty-two week high of $54.00. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s 50-day simple moving average is $50.16 and its 200-day simple moving average is $48.22.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Tuesday, July 20th. The transportation company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.10. Knight-Swift Transportation had a return on equity of 10.01% and a net margin of 10.88%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue was up 24.0% compared to the same quarter last year. As a group, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 3.97 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 27th. Investors of record on Friday, September 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 2nd. Knight-Swift Transportation’s dividend payout ratio (DPR) is 14.65%.

A number of equities analysts recently commented on the stock. KeyCorp lifted their price target on shares of Knight-Swift Transportation from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 7th. Susquehanna cut their target price on Knight-Swift Transportation from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, July 22nd. Citigroup raised their price target on Knight-Swift Transportation from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 14th. Morgan Stanley lifted their target price on Knight-Swift Transportation from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Knight-Swift Transportation from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $55.39.

In other Knight-Swift Transportation news, Vice Chairman Gary J. Knight sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $52.00, for a total value of $2,600,000.00. Following the completion of the transaction, the insider now directly owns 10,588 shares of the company’s stock, valued at $550,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $50.48, for a total value of $100,960.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,215 shares of the company’s stock, valued at $111,813.20. The disclosure for this sale can be found here. Insiders have sold 59,100 shares of company stock valued at $3,060,419 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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

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