Bank of Montreal Can Boosts Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Bank of Montreal Can lifted its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 180.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,266 shares of the transportation company’s stock after acquiring an additional 52,309 shares during the period. Bank of Montreal Can owned 0.05% of Knight-Swift Transportation worth $4,392,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KNX. Interval Partners LP raised its stake in Knight-Swift Transportation by 8,520.1% during the second quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock worth $64,547,000 after purchasing an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Knight-Swift Transportation by 1,728.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock worth $66,440,000 after buying an additional 1,258,157 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 1,176,069 shares during the last quarter. Millennium Management LLC grew its position in Knight-Swift Transportation by 309.7% during the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock valued at $53,331,000 after acquiring an additional 807,572 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Knight-Swift Transportation by 10.9% during 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 last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Knight-Swift Transportation

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

Analyst Ratings Changes

A number of analysts have recently issued reports on KNX shares. Morgan Stanley decreased their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on shares of 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. TD Cowen raised their target price on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI upped their price target on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus raised their price objective on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.38.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $56.78 on Wednesday. The firm has a market cap of $9.19 billion, a PE ratio of 246.88, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year high of $60.99. The firm’s 50-day simple moving average is $54.43 and its 200-day simple moving average is $51.82. 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 issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion during 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 business’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. Equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 278.27%.

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.