Louisiana State Employees Retirement System cut its stake in shares of Knight Transportation Inc. (NYSE:KNX) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 27,000 shares of the company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Knight Transportation were worth $718,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Knight Transportation during the second quarter valued at approximately $107,000. BlackRock Inc. boosted its stake in shares of Knight Transportation by 125.3% in the first quarter. BlackRock Inc. now owns 4,206 shares of the company’s stock valued at $109,000 after buying an additional 2,339 shares during the last quarter. Creative Planning boosted its stake in shares of Knight Transportation by 57.1% in the second quarter. Creative Planning now owns 5,500 shares of the company’s stock valued at $146,000 after buying an additional 2,000 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Knight Transportation by 0.7% in the second quarter. Capstone Asset Management Co. now owns 18,117 shares of the company’s stock valued at $482,000 after buying an additional 120 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Knight Transportation by 22.1% in the first quarter. Aperio Group LLC now owns 19,135 shares of the company’s stock valued at $500,000 after buying an additional 3,460 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.
Shares of Knight Transportation Inc. (NYSE:KNX) traded down 0.83% during mid-day trading on Tuesday, reaching $28.54. The company’s stock had a trading volume of 562,739 shares. Knight Transportation Inc. has a 52-week low of $20.56 and a 52-week high of $30.38. The firm has a 50 day moving average price of $28.61 and a 200 day moving average price of $27.33. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 21.77 and a beta of 0.83.
Knight Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. The firm earned $276.30 million during the quarter, compared to the consensus estimate of $283.13 million. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. On average, equities analysts predict that Knight Transportation Inc. will post $1.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a $0.06 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.24 dividend on an annualized basis and a yield of 0.84%. Knight Transportation’s dividend payout ratio is 18.18%.
Several equities research analysts recently commented on KNX shares. Barclays PLC boosted their price target on Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, September 12th. BB&T Corp. restated a “hold” rating on shares of Knight Transportation in a report on Friday, July 1st. Zacks Investment Research upgraded Knight Transportation from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Deutsche Bank AG boosted their target price on Knight Transportation from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Finally, Macquarie lowered Knight Transportation from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $27.00 in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Knight Transportation currently has a consensus rating of “Hold” and an average target price of $27.06.
In other news, VP Wayne Yu sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $29.59, for a total value of $94,688.00. Following the completion of the sale, the vice president now directly owns 8,279 shares of the company’s stock, valued at $244,975.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Gary J. Knight sold 99,339 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $28.09, for a total value of $2,790,432.51. The disclosure for this sale can be found here. 11.60% of the stock is owned by company insiders.
Knight Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. The Company operates primarily in the United States with minor operations in Canada and Mexico.
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