Geode Capital Management LLC Increases Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Geode Capital Management LLC grew its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 1.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,740,873 shares of the transportation company's stock after buying an additional 46,436 shares during the period. Geode Capital Management LLC owned approximately 1.69% of Knight-Swift Transportation worth $147,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake 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 during the period. Raymond James & Associates grew its holdings in Knight-Swift Transportation by 126.5% during the 2nd quarter. Raymond James & Associates now owns 74,138 shares of the transportation company's stock valued at $3,701,000 after purchasing an additional 41,409 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Knight-Swift Transportation by 1.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,376 shares of the transportation company's stock worth $1,267,000 after purchasing an additional 325 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in Knight-Swift Transportation in the second quarter worth about $256,000. Finally, Ceredex Value Advisors LLC lifted its stake in Knight-Swift Transportation by 3.6% in the second quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company's stock worth $81,729,000 after purchasing an additional 57,493 shares during the last quarter. 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 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 transaction of $1,703,061.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ploeg David Vander sold 500 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 30,729 shares in the company, valued at $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Knight-Swift Transportation Stock Performance

KNX traded down $0.99 during midday trading on Tuesday, hitting $53.93. 2,117,494 shares of the company were exchanged, compared to its average volume of 2,035,543. The company's 50 day simple moving average is $55.15 and its 200 day simple moving average is $52.42. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 234.49, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.55 and a 1-year high of $60.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $0.41 earnings per share. Knight-Swift Transportation's revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. Knight-Swift Transportation's payout ratio is 278.27%.

Wall Street Analyst Weigh In

KNX has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Stifel Nicolaus raised their price target on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Barclays lifted their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. TD Cowen upped their target price on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, Citigroup downgraded shares of Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 price target for the company. in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $57.00.

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.