Custom Index Systems LLC Acquires 4,160 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Custom Index Systems LLC raised its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 75.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,692 shares of the transportation company’s stock after acquiring an additional 4,160 shares during the quarter. Custom Index Systems LLC’s holdings in Knight-Swift Transportation were worth $523,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Interval Partners LP boosted its position in Knight-Swift Transportation by 8,520.1% during the second quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock valued at $64,547,000 after purchasing an additional 1,278,011 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Knight-Swift Transportation by 1,728.8% during the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock valued at $66,440,000 after buying an additional 1,258,157 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Knight-Swift Transportation by 27.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock valued at $271,121,000 after buying an additional 1,176,069 shares in the last quarter. Millennium Management LLC grew its position in shares of Knight-Swift Transportation by 309.7% in the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after buying an additional 807,572 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Knight-Swift Transportation by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after acquiring an additional 744,412 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael Garnreiter sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total value of $101,140.00. Following the completion of the sale, the director now directly owns 17,648 shares in the company, valued at $892,459.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the sale, the director now directly owns 21,833 shares in the company, valued at approximately $1,164,135.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total value of $101,140.00. Following the transaction, the director now directly owns 17,648 shares of the company’s stock, valued at $892,459.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock worth $4,367,869 in the last ninety days. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Performance

Knight-Swift Transportation stock traded up $0.61 during midday trading on Friday, hitting $52.55. 1,698,619 shares of the company were exchanged, compared to its average volume of 2,068,651. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The firm has a market capitalization of $8.51 billion, a PE ratio of 128.17, a price-to-earnings-growth ratio of 1.74 and a beta of 0.92. The business has a fifty day simple moving average of $52.22 and a two-hundred day simple moving average of $50.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.06 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, September 6th. Knight-Swift Transportation’s payout ratio is currently 156.10%.

Analysts Set New Price Targets

Several research firms have issued reports on KNX. JPMorgan Chase & Co. lifted their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. UBS Group dropped their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Barclays increased their price target on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Wolfe Research lowered Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Citigroup started coverage on shares of Knight-Swift Transportation in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.94.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.