Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Stock Position Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,251 shares of the transportation company's stock after selling 12,685 shares during the quarter. Retirement Systems of Alabama owned 0.23% of Knight-Swift Transportation worth $20,461,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KNX. Commonwealth Equity Services LLC grew its stake in shares of Knight-Swift Transportation by 0.8% during the second quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company's stock worth $1,230,000 after purchasing an additional 196 shares during the period. United Services Automobile Association boosted its stake in shares of Knight-Swift Transportation by 1.6% during the 2nd quarter. United Services Automobile Association now owns 12,770 shares of the transportation company's stock worth $637,000 after acquiring an additional 199 shares during the period. Brown Brothers Harriman & Co. grew its stake in Knight-Swift Transportation by 28.6% in the 2nd 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. MML Investors Services LLC lifted its holdings in shares of Knight-Swift Transportation by 4.6% during the third quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company's stock worth $280,000 after buying an additional 228 shares in the last quarter. Finally, MQS Management LLC boosted its stake in shares of 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 period. Institutional investors own 88.77% of the company's stock.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Chairman Kevin P. Knight sold 29,779 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the company's stock in a transaction dated Thursday, November 14th. The stock was 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 owns 30,729 shares of the company's stock, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KNX shares. Bank of America lifted their price target on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Morgan Stanley decreased their price target on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Citigroup lowered Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 price objective for the company. in a report on Tuesday, November 12th. Evercore ISI lifted their target price on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an "in-line" rating in a research note on Thursday, October 24th. Finally, Susquehanna raised their price target on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Knight-Swift Transportation currently has an average rating of "Hold" and an average price target of $56.81.

Knight-Swift Transportation Trading Down 1.7 %

Shares of NYSE KNX traded down $0.96 during midday trading on Friday, hitting $55.43. 1,127,598 shares of the company traded hands, compared to its average volume of 1,613,177. The stock has a 50-day moving average price of $55.03 and a 200 day moving average price of $52.28. The firm has a market cap of $8.97 billion, a P/E ratio of 241.01, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share 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 during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company's revenue was down 7.1% on a year-over-year basis. As a group, analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current 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 $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, December 6th. Knight-Swift Transportation's payout ratio is currently 278.27%.

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.