Harvey Investment Co. LLC Reduces Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Harvey Investment Co. LLC trimmed its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,967 shares of the transportation company’s stock after selling 10,720 shares during the period. Knight-Swift Transportation makes up 1.9% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 21st biggest holding. Harvey Investment Co. LLC’s holdings in Knight-Swift Transportation were worth $16,441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KNX. Franklin Resources Inc. bought a new position in shares of Knight-Swift Transportation during the third quarter valued at about $70,185,000. Fortitude Family Office LLC purchased a new stake in Knight-Swift Transportation during the 3rd quarter valued at about $26,775,000. Allspring Global Investments Holdings LLC boosted its holdings in Knight-Swift Transportation by 13.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock valued at $219,870,000 after acquiring an additional 467,647 shares during the period. Nuance Investments LLC grew its position in Knight-Swift Transportation by 74.5% during the 3rd quarter. Nuance Investments LLC now owns 929,083 shares of the transportation company’s stock worth $50,124,000 after acquiring an additional 396,607 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Knight-Swift Transportation by 34.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock worth $76,224,000 after purchasing an additional 359,566 shares during the period. Institutional investors own 88.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KNX. StockNews.com raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. TD Cowen increased their price target on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Barclays boosted their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group increased their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and boosted their price target for the company from $48.00 to $67.00 in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Insider Buying and Selling

In related news, Director Ploeg David Vander sold 500 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the transaction, the director now owns 30,729 shares in the company, valued at $1,754,625.90. The trade was a 1.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the firm’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.

Knight-Swift Transportation Price Performance

Shares of KNX stock opened at $55.33 on Friday. The business’s fifty day moving average is $55.22 and its 200 day moving average is $53.89. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 75.80 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. Research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Knight-Swift Transportation’s payout ratio is 87.67%.

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.