Edgestream Partners L.P. Acquires Shares of 16,285 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Edgestream Partners L.P. purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,285 shares of the transportation company's stock, valued at approximately $879,000.

Several other hedge funds also recently made changes to their positions in KNX. Deseret Mutual Benefit Administrators lifted its stake in Knight-Swift Transportation by 87.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company's stock worth $40,000 after purchasing an additional 348 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company's stock valued at $45,000 after buying an additional 200 shares during the period. Blue Trust Inc. grew its position in Knight-Swift Transportation by 168.3% during the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company's stock worth $51,000 after buying an additional 579 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Knight-Swift Transportation by 50.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company's stock worth $51,000 after acquiring an additional 343 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Knight-Swift Transportation by 36.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company's stock worth $61,000 after acquiring an additional 302 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KNX has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the company an "in-line" rating in a research report on Thursday, October 24th. Bank of America upped their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Citigroup lowered Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 target price for the company. in a research report on Tuesday, November 12th. Raymond James increased their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a "strong-buy" rating in a report on Monday, October 14th. Finally, TD Cowen raised their price objective on Knight-Swift Transportation from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $56.38.

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock traded down $0.61 on Thursday, hitting $56.05. 1,176,912 shares of the company traded hands, compared to its average volume of 2,050,986. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50-day simple moving average of $54.50 and a 200 day simple moving average of $51.86. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $60.99. The stock has a market capitalization of $9.07 billion, a P/E ratio of 246.45, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. During the same period in the previous year, the company earned $0.41 EPS. The firm's quarterly revenue was down 7.1% on a year-over-year basis. Research analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

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 given a $0.16 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. Knight-Swift Transportation's payout ratio is presently 278.27%.

Insider Activity

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

Knight-Swift Transportation Company Profile

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.