Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 21.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 12,353 shares of the transportation company’s stock after selling 3,330 shares during the period. US Bancorp DE’s holdings in Knight-Swift Transportation were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Knight-Swift Transportation by 10.9% in the second quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after acquiring an additional 744,412 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Knight-Swift Transportation by 27.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock valued at $271,121,000 after purchasing an additional 1,176,069 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Knight-Swift Transportation by 13.0% during the third 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 last quarter. Ceredex Value Advisors LLC lifted its position in shares of Knight-Swift Transportation by 3.6% in the second quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock valued at $81,729,000 after acquiring an additional 57,493 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Knight-Swift Transportation by 1,728.8% in the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock worth $66,440,000 after acquiring an additional 1,258,157 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $59.60 on Monday. The company has a 50-day simple moving average of $52.57 and a 200-day simple moving average of $50.70. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 259.14, a PEG ratio of 2.17 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 quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. On average, analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current year.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Michael Garnreiter sold 2,000 shares of the company’s 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 sale, the director now owns 17,648 shares of the company’s stock, valued at $892,459.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Michael Garnreiter sold 2,000 shares of the business’s 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 completion of the transaction, the director now owns 17,648 shares of the company’s stock, valued at approximately $892,459.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the sale, the director now owns 21,833 shares in the company, valued at approximately $1,164,135.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group decreased 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. Citigroup began coverage on shares of Knight-Swift Transportation in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $55.00 price target on the stock. Morgan Stanley dropped their price objective 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. Bank of America increased their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna boosted their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and an average price target of $55.94.

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.