Scout Investments Inc. Purchases New Position in Knight-Swift Transportation Holdings Inc (NYSE:KNX)
Scout Investments Inc. purchased a new stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 503,188 shares of the transportation company’s stock, valued at approximately $18,266,000.
A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its stake in Knight-Swift Transportation by 30.3% during the first quarter. FMR LLC now owns 16,940,629 shares of the transportation company’s stock valued at $553,620,000 after buying an additional 3,944,181 shares during the last quarter. BlackRock Inc. raised its position in Knight-Swift Transportation by 2.7% during the second quarter. BlackRock Inc. now owns 12,280,414 shares of the transportation company’s stock valued at $403,290,000 after purchasing an additional 319,842 shares during the period. Wasatch Advisors Inc. raised its position in Knight-Swift Transportation by 0.8% during the second quarter. Wasatch Advisors Inc. now owns 5,982,861 shares of the transportation company’s stock valued at $196,477,000 after purchasing an additional 49,120 shares during the period. Invesco Ltd. raised its position in Knight-Swift Transportation by 15.3% during the second quarter. Invesco Ltd. now owns 3,534,626 shares of the transportation company’s stock valued at $116,076,000 after purchasing an additional 467,967 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Knight-Swift Transportation by 9.1% during the second quarter. JPMorgan Chase & Co. now owns 3,527,496 shares of the transportation company’s stock valued at $110,904,000 after purchasing an additional 293,814 shares during the period. 83.42% of the stock is owned by institutional investors.
Shares of NYSE KNX traded up $0.66 during midday trading on Wednesday, hitting $34.88. The company’s stock had a trading volume of 16,764 shares, compared to its average volume of 2,133,992. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $34.90 and its two-hundred day moving average is $33.35. Knight-Swift Transportation Holdings Inc has a 12-month low of $23.27 and a 12-month high of $39.26. The firm has a market cap of $5.83 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.98.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd were issued a $0.06 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.69%. Knight-Swift Transportation’s payout ratio is 9.38%.
In other news, EVP James L. Fitzsimmons sold 1,582 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $36.72, for a total value of $58,091.04. Also, COO Kevin Quast sold 4,703 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.36, for a total value of $156,892.08. Following the completion of the sale, the chief operating officer now owns 11,602 shares in the company, valued at $387,042.72. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
A number of equities research analysts have issued reports on the company. Stephens assumed coverage on Knight-Swift Transportation in a research report on Monday, July 1st. They set a “buy” rating on the stock. Knight Equity assumed coverage on Knight-Swift Transportation in a research report on Thursday, September 5th. They set a “positive” rating and a $40.00 price objective on the stock. KeyCorp upped their price objective on Knight-Swift Transportation from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Bank of America restated a “buy” rating and set a $43.00 price objective (up from $38.00) on shares of Knight-Swift Transportation in a research report on Thursday, July 25th. Finally, ValuEngine downgraded Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Knight-Swift Transportation has a consensus rating of “Buy” and a consensus price target of $42.46.
About Knight-Swift Transportation
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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