Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 21.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,241,023 shares of the transportation company’s stock after acquiring an additional 567,153 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Knight-Swift Transportation were worth $165,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Knight-Swift Transportation by 18.8% in the 3rd quarter. BlackRock Inc. now owns 16,067,951 shares of the transportation company’s stock worth $821,876,000 after purchasing an additional 2,543,557 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Knight-Swift Transportation by 1.9% in the second quarter. Vanguard Group Inc. now owns 13,106,895 shares of the transportation company’s stock worth $595,840,000 after acquiring an additional 246,460 shares in the last quarter. State Street Corp increased its position in shares of Knight-Swift Transportation by 13.1% in the second quarter. State Street Corp now owns 5,535,697 shares of the transportation company’s stock worth $251,653,000 after acquiring an additional 639,276 shares in the last quarter. Morgan Stanley increased its position in shares of Knight-Swift Transportation by 17.6% in the second quarter. Morgan Stanley now owns 4,764,318 shares of the transportation company’s stock worth $216,586,000 after acquiring an additional 713,283 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Knight-Swift Transportation by 19.9% in the second quarter. Invesco Ltd. now owns 4,561,700 shares of the transportation company’s stock worth $207,376,000 after acquiring an additional 757,603 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

In other news, VP Michael K. Liu sold 1,663 shares of the business’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $59.15, for a total value of $98,366.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kevin P. Knight sold 50,000 shares of the business’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $56.76, for a total transaction of $2,838,000.00. The disclosure for this sale can be found here. Insiders sold 239,939 shares of company stock valued at $14,051,645 over the last 90 days. 27.50% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on KNX shares. Stifel Europe lifted their target price on shares of Knight-Swift Transportation from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, December 6th. KeyCorp lifted their target price on shares of Knight-Swift Transportation from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 23rd. Raymond James lifted their target price on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, December 30th. Citigroup raised their price target on shares of Knight-Swift Transportation from $61.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, December 7th. Finally, Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Tuesday, October 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $61.64.

Shares of Knight-Swift Transportation stock opened at $56.79 on Friday. The firm has a fifty day simple moving average of $59.05 and a 200-day simple moving average of $53.66. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.28. Knight-Swift Transportation Holdings Inc. has a 1-year low of $39.17 and a 1-year high of $62.29. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.76 and a beta of 1.28.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Tuesday, October 19th. The transportation company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.23. Knight-Swift Transportation had a net margin of 11.56% and a return on equity of 11.20%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the company earned $0.79 earnings per share. Knight-Swift Transportation’s revenue for the quarter was up 35.7% on a year-over-year basis. As a group, research analysts predict that Knight-Swift Transportation Holdings Inc. will post 4.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 27th. Stockholders of record on Friday, December 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, December 2nd. Knight-Swift Transportation’s payout ratio is 10.64%.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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