Principal Financial Group Inc. raised its stake in shares of Knight Transportation Inc. (NYSE:KNX) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 437,919 shares of the company’s stock after buying an additional 6,152 shares during the period. Principal Financial Group Inc. owned about 0.55% of Knight Transportation worth $11,640,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of KNX. Bank of Montreal Can acquired 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. Huntington National Bank boosted its stake in shares of Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock valued at $180,000 after buying an additional 471 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Knight Transportation by 20.7% in the second quarter. Teacher Retirement System of Texas now owns 9,061 shares of the company’s stock valued at $241,000 after buying an additional 1,554 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.
Shares of Knight Transportation Inc. (NYSE:KNX) traded down 2.96% during midday trading on Thursday, hitting $27.57. 152,203 shares of the stock were exchanged. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 21.03 and a beta of 0.83. Knight Transportation Inc. has a 1-year low of $20.56 and a 1-year high of $30.38. The firm’s 50 day moving average is $28.58 and its 200-day moving average is $27.35.
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 consensus estimate of $0.30 by $0.01. Knight Transportation had a net margin of 9.37% and a return on equity of 14.55%. The firm earned $276.30 million during the quarter, compared to the consensus estimate of $283.13 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Knight Transportation Inc. will post $1.18 EPS for the current 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. This represents a $0.24 annualized dividend and a yield of 0.84%. The ex-dividend date was Wednesday, August 31st. Knight Transportation’s dividend payout ratio (DPR) is currently 18.18%.
Several analysts have commented on the stock. Barclays PLC upped their target price on shares of Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, September 12th. Citigroup Inc. boosted their price target on shares of Knight Transportation from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 11th. BB&T Corp. reissued a “hold” rating on shares of Knight Transportation in a report on Friday, July 1st. Deutsche Bank AG boosted their price target on shares of Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a report on Friday, July 29th. Finally, Zacks Investment Research lowered shares of Knight Transportation from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Knight Transportation has an average rating of “Hold” and an average target price of $27.06.
In other news, VP Wayne Yu sold 3,200 shares of Knight Transportation stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $29.59, for a total transaction of $94,688.00. Following the completion of the transaction, the vice president now directly owns 8,279 shares in the company, valued at $244,975.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin P. Knight sold 500,000 shares of Knight Transportation stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $28.86, for a total transaction of $14,430,000.00. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.
About Knight Transportation
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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