Investment Management Corp of Ontario Acquires New Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Investment Management Corp of Ontario bought a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,360 shares of the transportation company’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Paloma Partners Management Co increased its holdings in shares of Knight-Swift Transportation by 681.6% during the 3rd quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company’s stock worth $3,237,000 after buying an additional 52,323 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Knight-Swift Transportation in the third quarter valued at $879,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of 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 valued at $76,224,000 after purchasing an additional 359,566 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Knight-Swift Transportation by 77.2% during the 3rd quarter. Verition Fund Management LLC now owns 109,665 shares of the transportation company’s stock worth $5,916,000 after purchasing an additional 47,785 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in shares of Knight-Swift Transportation by 61.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 20,109 shares of the transportation company’s stock worth $1,085,000 after purchasing an additional 7,666 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America increased their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays lifted their target price on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Raymond James upped their price target 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. The Goldman Sachs Group dropped their price objective on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus increased their target price on Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Hold” and a consensus target price of $56.38.

Knight-Swift Transportation Stock Down 1.0 %

KNX opened at $55.50 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99. The stock has a market capitalization of $8.98 billion, a P/E ratio of 241.31, a P/E/G ratio of 1.94 and a beta of 0.96. The business has a 50 day simple moving average of $54.60 and a 200-day simple moving average of $52.01.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. Knight-Swift Transportation’s revenue was down 7.1% on a year-over-year basis. On average, equities analysts anticipate 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. Investors of record on Friday, December 6th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, December 6th. Knight-Swift Transportation’s payout ratio is 278.27%.

Insider Buying and Selling at Knight-Swift Transportation

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

Knight-Swift Transportation Company 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.