American Trust Invests $204,000 in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

American Trust bought a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,789 shares of the transportation company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of KNX. Victory Capital Management Inc. boosted its holdings in shares of Knight-Swift Transportation by 10.9% in the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock valued at $379,133,000 after acquiring an additional 744,412 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Knight-Swift Transportation by 27.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock valued at $271,121,000 after purchasing an additional 1,176,069 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Knight-Swift Transportation by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock valued at $219,870,000 after purchasing an additional 467,647 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Knight-Swift Transportation by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock valued at $147,529,000 after purchasing an additional 46,436 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in Knight-Swift Transportation by 3.6% during the 2nd quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock worth $81,729,000 after purchasing an additional 57,493 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now directly owns 30,729 shares in the company, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KNX has been the subject of several analyst reports. Bank of America boosted their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus boosted their price target on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a report on Friday, October 25th. Barclays raised their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Susquehanna boosted their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley dropped their price target on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.81.

Knight-Swift Transportation Stock Performance

Shares of NYSE:KNX opened at $55.43 on Friday. The business’s 50 day moving average price is $55.03 and its 200-day moving average price is $52.28. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year high of $60.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $8.97 billion, a PE ratio of 241.00, a P/E/G ratio of 1.95 and a beta of 0.96.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. Knight-Swift Transportation’s dividend payout ratio is presently 278.26%.

Knight-Swift Transportation 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.