Wesbanco Bank Inc. purchased a new stake in Knight-Swift Transportation Holdings Inc (NYSE:KNX) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 100,350 shares of the transportation company’s stock, valued at approximately $3,835,000. Wesbanco Bank Inc. owned approximately 0.06% of Knight-Swift Transportation as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Knight-Swift Transportation by 0.9% in the first quarter. BlackRock Inc. now owns 14,463,356 shares of the transportation company’s stock valued at $665,459,000 after purchasing an additional 122,062 shares in the last quarter. Millennium Management LLC raised its stake in Knight-Swift Transportation by 334.8% in the first quarter. Millennium Management LLC now owns 3,670,747 shares of the transportation company’s stock valued at $168,891,000 after purchasing an additional 2,826,495 shares in the last quarter. Citadel Advisors LLC raised its stake in Knight-Swift Transportation by 314.7% in the first quarter. Citadel Advisors LLC now owns 3,349,522 shares of the transportation company’s stock valued at $154,112,000 after purchasing an additional 2,541,867 shares in the last quarter. Victory Capital Management Inc. raised its stake in Knight-Swift Transportation by 33.8% in the first quarter. Victory Capital Management Inc. now owns 2,409,668 shares of the transportation company’s stock valued at $110,869,000 after purchasing an additional 608,680 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Knight-Swift Transportation by 2.2% in the first quarter. Northern Trust Corp now owns 2,238,790 shares of the transportation company’s stock valued at $103,006,000 after purchasing an additional 47,843 shares in the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.
In other news, CAO Wayne Yu acquired 1,750 shares of the stock in a transaction dated Wednesday, August 1st. The stock was bought at an average price of $32.01 per share, with a total value of $56,017.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 27.50% of the company’s stock.
NYSE KNX traded up $0.37 during trading on Tuesday, hitting $33.91. 6,699 shares of the company’s stock were exchanged, compared to its average volume of 3,730,961. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 0.96 and a beta of 1.58. Knight-Swift Transportation Holdings Inc has a fifty-two week low of $29.00 and a fifty-two week high of $51.94.
Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 25th. The transportation company reported $0.56 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Knight-Swift Transportation had a return on equity of 5.74% and a net margin of 13.67%. The business’s quarterly revenue was up 387.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. sell-side analysts predict that Knight-Swift Transportation Holdings Inc will post 2.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Monday, September 3rd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, August 30th. Knight-Swift Transportation’s payout ratio is 17.39%.
A number of research analysts recently commented on the company. ValuEngine downgraded Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Credit Suisse Group dropped their price target on Knight-Swift Transportation from $43.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, July 26th. Morgan Stanley dropped their price target on Knight-Swift Transportation from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, July 26th. Buckingham Research dropped their price target on Knight-Swift Transportation from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, July 26th. Finally, Stifel Nicolaus lowered their target price on Knight-Swift Transportation from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Knight-Swift Transportation presently has an average rating of “Buy” and a consensus price target of $49.44.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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