iA Global Asset Management Inc. Acquires 94,963 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

iA Global Asset Management Inc. boosted its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 493.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,208 shares of the transportation company’s stock after acquiring an additional 94,963 shares during the period. iA Global Asset Management Inc. owned 0.07% of Knight-Swift Transportation worth $5,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Knight-Swift Transportation by 15.7% during the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after acquiring an additional 2,137,296 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Knight-Swift Transportation by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after purchasing an additional 57,000 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Knight-Swift Transportation by 908.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock worth $241,086,000 after acquiring an additional 3,767,408 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Knight-Swift Transportation by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,607,802 shares of the transportation company’s stock worth $180,101,000 after purchasing an additional 235,858 shares in the last quarter. Finally, Norges Bank purchased a new position in Knight-Swift Transportation in the 4th quarter worth approximately $201,232,000. Institutional investors own 88.77% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Kevin P. Knight sold 45,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the sale, the chairman now directly owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the sale, the director now owns 21,833 shares in the company, valued at $1,164,135.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the sale, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,196 shares of company stock valued at $4,367,869. Corporate insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Up 1.4 %

NYSE:KNX opened at $52.42 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88. The company’s fifty day moving average price is $51.22 and its 200-day moving average price is $51.31. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.55 and a 1-year high of $60.99. The firm has a market capitalization of $8.48 billion, a P/E ratio of 78.23, a PEG ratio of 1.44 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. As a group, equities research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.12 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Analyst Ratings Changes

KNX has been the topic of a number of research reports. Wolfe Research downgraded Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Wells Fargo & Company began coverage on shares of Knight-Swift Transportation in a research note on Friday, June 7th. They issued an “overweight” rating and a $56.00 price objective for the company. Evercore ISI reduced their price target on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. TD Cowen upped their target price on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays lifted their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.14.

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.