Fmr LLC Trims Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

FMR LLC reduced its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,303,192 shares of the transportation company's stock after selling 283,957 shares during the period. FMR LLC owned about 5.13% of Knight-Swift Transportation worth $447,957,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Knight-Swift Transportation by 180.6% in the 3rd quarter. Bank of Montreal Can now owns 81,266 shares of the transportation company's stock worth $4,392,000 after purchasing an additional 52,309 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Knight-Swift Transportation by 9.9% in the third quarter. Daiwa Securities Group Inc. now owns 12,197 shares of the transportation company's stock worth $658,000 after buying an additional 1,100 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Knight-Swift Transportation by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company's stock worth $61,878,000 after buying an additional 26,346 shares during the period. Nuance Investments LLC lifted its position in shares of Knight-Swift Transportation by 74.5% during the 3rd quarter. Nuance Investments LLC now owns 929,083 shares of the transportation company's stock valued at $50,124,000 after buying an additional 396,607 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at approximately $3,729,000. 88.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the company's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now directly owns 30,729 shares in the company, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company's stock.

Knight-Swift Transportation Stock Up 0.5 %

NYSE:KNX traded up $0.27 during midday trading on Friday, reaching $59.36. 662,339 shares of the stock traded hands, compared to its average volume of 2,058,806. 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 stock has a market capitalization of $9.61 billion, a PE ratio of 258.09, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99. The business has a 50-day moving average of $54.25 and a two-hundred day moving average of $51.70.

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

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.08%. Knight-Swift Transportation's payout ratio is 278.26%.

Analyst Upgrades and Downgrades

A number of research firms have commented on KNX. Susquehanna raised their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, September 26th. Raymond James lifted their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a "strong-buy" rating in a research note on Monday, October 14th. TD Cowen increased their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Barclays boosted their price objective on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley decreased their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Knight-Swift Transportation currently has an average rating of "Hold" and a consensus price target of $56.38.

About Knight-Swift Transportation

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.