Landsberg Bennett & Dubbaneh LLC lessened its holdings in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,185 shares of the transportation company’s stock after selling 1,930 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Knight-Swift Transportation were worth $975,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of KNX. Steward Partners Investment Advisory LLC purchased a new position in Knight-Swift Transportation in the 2nd quarter worth $25,000. Captrust Financial Advisors purchased a new position in Knight-Swift Transportation in the 2nd quarter worth $25,000. Princeton Global Asset Management LLC purchased a new position in Knight-Swift Transportation in the 1st quarter worth $28,000. First National Bank of South Miami purchased a new position in shares of Knight-Swift Transportation in the second quarter valued at about $28,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Knight-Swift Transportation in the second quarter valued at about $35,000. Institutional investors own 83.42% of the company’s stock.
KNX has been the topic of a number of analyst reports. Morgan Stanley set a $48.00 price objective on shares of Knight-Swift Transportation and gave the company a “buy” rating in a research report on Monday, July 8th. Stephens initiated coverage on shares of Knight-Swift Transportation in a research report on Monday, July 1st. They issued a “buy” rating on the stock. KeyCorp boosted their price objective on shares of Knight-Swift Transportation from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Knight Equity initiated coverage on shares of Knight-Swift Transportation in a research report on Thursday, September 5th. They issued a “positive” rating and a $40.00 price objective on the stock. Finally, Stifel Nicolaus restated a “hold” rating and issued a $40.00 price objective (up previously from $39.00) on shares of Knight-Swift Transportation in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $42.77.
Shares of KNX stock traded up $1.34 during mid-day trading on Friday, reaching $36.13. The stock had a trading volume of 125,074 shares, compared to its average volume of 1,967,497. The stock’s 50-day moving average price is $34.92 and its two-hundred day moving average price is $33.38. Knight-Swift Transportation Holdings Inc has a 52-week low of $23.27 and a 52-week high of $39.26. The firm has a market capitalization of $5.83 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.95 and a beta of 1.98. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15.
Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 24th. The transportation company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. Knight-Swift Transportation had a net margin of 8.19% and a return on equity of 8.66%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. On average, equities research analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, August 30th. Knight-Swift Transportation’s payout ratio is 9.38%.
In other news, EVP James L. Fitzsimmons sold 1,582 shares of Knight-Swift Transportation stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $36.72, for a total transaction of $58,091.04. Also, COO Kevin Quast sold 4,703 shares of Knight-Swift Transportation stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $33.36, for a total transaction of $156,892.08. Following the sale, the chief operating officer now directly owns 11,602 shares in the company, valued at approximately $387,042.72. The disclosure for this sale can be found here. Insiders own 27.50% of the company’s stock.
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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