Waddell & Reed Financial Inc. decreased its position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,186,526 shares of the transportation company’s stock after selling 94,067 shares during the quarter. Waddell & Reed Financial Inc. owned about 1.26% of Knight-Swift Transportation worth $71,806,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new position in Knight-Swift Transportation during the 2nd quarter worth approximately $25,000. Steward Partners Investment Advisory LLC bought a new position in Knight-Swift Transportation during the 2nd quarter worth approximately $25,000. First National Bank of South Miami bought a new position in Knight-Swift Transportation during the 2nd quarter worth approximately $28,000. Princeton Global Asset Management LLC bought a new position in Knight-Swift Transportation during the 1st quarter worth approximately $28,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in Knight-Swift Transportation during the 2nd quarter worth approximately $35,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.
KNX traded up $1.46 during trading on Wednesday, reaching $35.91. The company had a trading volume of 162,214 shares, compared to its average volume of 2,238,588. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.17 and a quick ratio of 1.17. Knight-Swift Transportation Holdings Inc has a 12 month low of $23.27 and a 12 month high of $39.26. The business’s fifty day moving average price is $34.34 and its 200 day moving average price is $33.20. The company has a market cap of $5.95 billion, a P/E ratio of 14.04, a PEG ratio of 0.97 and a beta of 1.96.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, August 30th. Knight-Swift Transportation’s payout ratio is currently 9.38%.
In other news, EVP James L. Fitzsimmons sold 1,582 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, September 12th. The shares were 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 Knight-Swift Transportation stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $33.36, for a total transaction 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. Insiders own 4.30% of the company’s stock.
Several research analysts recently weighed in on KNX shares. ValuEngine raised shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Morgan Stanley set a $48.00 price objective on shares of Knight-Swift Transportation and gave the stock a “buy” rating in a research note on Monday, July 8th. Bank of America reissued a “buy” rating and set a $43.00 price objective (up previously from $38.00) on shares of Knight-Swift Transportation in a research note on Thursday, July 25th. Citigroup lifted their price objective on shares of Knight-Swift Transportation from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Stephens assumed coverage on shares of Knight-Swift Transportation in a research note on Monday, July 1st. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $42.46.
Knight-Swift Transportation Company Profile
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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