Thrivent Financial for Lutherans Purchases 1,258,157 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Thrivent Financial for Lutherans raised its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1,728.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,330,934 shares of the transportation company’s stock after buying an additional 1,258,157 shares during the period. Thrivent Financial for Lutherans’ holdings in Knight-Swift Transportation were worth $66,440,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Knight-Swift Transportation in the first quarter valued at approximately $25,000. GAMMA Investing LLC increased its holdings in Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 253 shares in the last quarter. Versant Capital Management Inc raised its position in Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after purchasing an additional 200 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after purchasing an additional 343 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the transaction, the director now directly owns 17,648 shares of the company’s stock, valued at $892,459.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the sale, the chairman now directly owns 1,422,360 shares in the company, valued at $73,294,210.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total value of $101,140.00. Following the transaction, the director now owns 17,648 shares in the company, valued at approximately $892,459.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,196 shares of company stock worth $4,367,869. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Down 2.0 %

NYSE:KNX opened at $52.21 on Friday. The stock’s fifty day simple moving average is $51.99 and its 200-day simple moving average is $50.72. The firm has a market capitalization of $8.44 billion, a P/E ratio of 77.93, a P/E/G ratio of 1.43 and a beta of 0.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. Equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Wall Street Analyst Weigh In

KNX has been the subject of a number of research analyst reports. UBS Group cut their price target on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Raymond James lowered their price objective on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 25th. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. Bank of America raised their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Evercore ISI dropped their price objective on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. One investment 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. According to MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and a consensus price target of $57.14.

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.