Primecap Management Co. CA Sells 6,000 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Primecap Management Co. CA trimmed its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,200 shares of the transportation company’s stock after selling 6,000 shares during the quarter. Primecap Management Co. CA owned about 0.11% of Knight-Swift Transportation worth $9,560,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. lifted its position 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 valued at $379,133,000 after acquiring an additional 744,412 shares during the period. Dimensional Fund Advisors LP raised its stake in Knight-Swift Transportation by 27.6% in 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Knight-Swift Transportation by 13.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock worth $219,870,000 after purchasing an additional 467,647 shares during the period. Ceredex Value Advisors LLC grew its stake in Knight-Swift Transportation by 3.6% during the second quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock worth $81,729,000 after buying an additional 57,493 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Knight-Swift Transportation by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,337,737 shares of the transportation company’s stock valued at $72,171,000 after buying an additional 6,803 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Insider Transactions at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 29,779 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $57.62 on Friday. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 250.53, a PEG ratio of 1.92 and a beta of 0.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The stock has a fifty day simple moving average of $53.59 and a 200 day simple moving average of $51.33.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly 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. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio is currently 278.27%.

Analyst Ratings Changes

Several research firms recently issued reports on KNX. Susquehanna increased their price target on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. The Goldman Sachs Group reduced their target price on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Bank of America boosted their price target on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays raised their price objective on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Raymond James boosted their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation has a consensus rating of “Hold” and a consensus price target of $56.38.

About Knight-Swift Transportation

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.