Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 12.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 230,069 shares of the transportation company's stock after selling 32,964 shares during the quarter. Wedge Capital Management L L P NC owned about 0.14% of Knight-Swift Transportation worth $12,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in Knight-Swift Transportation by 0.8% in the second quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company's stock valued at $1,230,000 after buying an additional 196 shares during the last quarter. United Services Automobile Association lifted its position in Knight-Swift Transportation by 1.6% in the second quarter. United Services Automobile Association now owns 12,770 shares of the transportation company's stock valued at $637,000 after buying an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in Knight-Swift Transportation by 28.6% in 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 last quarter. MQS Management LLC lifted its position in Knight-Swift Transportation by 3.7% in the second quarter. MQS Management LLC now owns 6,981 shares of the transportation company's stock valued at $348,000 after buying an additional 250 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company's stock worth $35,000 after purchasing an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Knight-Swift Transportation Stock Up 1.2 %

Knight-Swift Transportation stock traded up $0.60 during mid-day trading on Tuesday, hitting $51.54. The company had a trading volume of 2,354,595 shares, compared to its average volume of 2,052,794. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 124.23, a PEG ratio of 1.41 and a beta of 0.92. 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 quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $52.21 and a 200 day moving average of $50.42.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.08 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 156.10%.

Insider Transactions at Knight-Swift Transportation

In other news, Chairman Kevin P. Knight sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the transaction, the chairman now directly owns 1,467,360 shares in the company, valued at approximately $73,852,228.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Kevin P. Knight sold 30,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the sale, the chairman now directly owns 1,467,360 shares of the company's stock, valued at $73,852,228.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the sale, the director now directly owns 21,833 shares of the company's stock, valued at approximately $1,164,135.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,196 shares of company stock worth $4,367,869. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

KNX has been the topic of several research reports. Evercore ISI reduced their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set an "in-line" rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group reduced their price target on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Barclays increased their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Bank of America increased their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Finally, TD Cowen increased their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.88.

Knight-Swift Transportation 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.