Massachusetts Financial Services Co. MA Decreases Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Massachusetts Financial Services Co. MA cut its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,773,861 shares of the transportation company's stock after selling 124,508 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.71% of Knight-Swift Transportation worth $149,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. UniSuper Management Pty Ltd raised its position in Knight-Swift Transportation by 109.1% in the first quarter. UniSuper Management Pty Ltd now owns 2,300 shares of the transportation company's stock valued at $127,000 after purchasing an additional 1,200 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Knight-Swift Transportation by 12.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 133,178 shares of the transportation company's stock valued at $7,328,000 after buying an additional 15,040 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Knight-Swift Transportation by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,241 shares of the transportation company's stock worth $4,691,000 after buying an additional 5,498 shares during the period. Bornite Capital Management LP bought a new stake in Knight-Swift Transportation during the 1st quarter worth approximately $9,628,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Knight-Swift Transportation by 42.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 148,710 shares of the transportation company's stock valued at $8,182,000 after acquiring an additional 44,154 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Up 2.5 %

Knight-Swift Transportation stock traded up $1.41 during midday trading on Friday, reaching $57.62. The stock had a trading volume of 2,375,424 shares, compared to its average volume of 1,944,356. 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 Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99. The company has a fifty day moving average price of $53.59 and a two-hundred day moving average price of $51.38. The company has a market capitalization of $9.33 billion, a P/E ratio of 250.53, a PEG ratio of 1.92 and a beta of 0.93.

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

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, December 6th. Knight-Swift Transportation's payout ratio is presently 278.27%.

Analysts Set New Price Targets

KNX has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Evercore ISI upped their price target on 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 raised their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Barclays upped their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Susquehanna raised their price target on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $56.38.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

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.