Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 22.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 700 shares of the transportation company’s stock after selling 200 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Knight-Swift Transportation were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc increased its position in Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after buying an additional 727 shares during the period. Deseret Mutual Benefit Administrators grew its position in shares of Knight-Swift Transportation by 87.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after acquiring an additional 348 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Knight-Swift Transportation by 50.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after acquiring an additional 343 shares during the period. Blue Trust Inc. lifted its position in Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 579 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Knight-Swift Transportation by 36.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 302 shares during the period. Institutional investors own 88.77% of the company’s stock.

Insider Activity

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

Knight-Swift Transportation Price Performance

NYSE KNX opened at $59.09 on Friday. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year high of $60.99. The business’s fifty day moving average is $54.11 and its two-hundred day moving average is $51.62. The stock has a market capitalization of $9.57 billion, a P/E ratio of 256.92, a P/E/G ratio of 2.01 and a beta of 0.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01.

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

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 278.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KNX shares. Evercore ISI lifted their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Susquehanna boosted their price target on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Morgan Stanley decreased their price target on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Raymond James lifted their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lowered their target price on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.38.

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.