Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,693 shares of the transportation company's stock after acquiring an additional 9,447 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Knight-Swift Transportation worth $5,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KNX. Victory Capital Management Inc. lifted its stake in Knight-Swift Transportation by 10.9% during the second quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company's stock worth $379,133,000 after purchasing an additional 744,412 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Knight-Swift Transportation by 27.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company's stock worth $271,121,000 after buying an additional 1,176,069 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Knight-Swift Transportation by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company's stock valued at $219,870,000 after buying an additional 467,647 shares in the last quarter. Ceredex Value Advisors LLC grew its position in shares of Knight-Swift Transportation by 3.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company's stock valued at $81,729,000 after buying an additional 57,493 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Knight-Swift Transportation by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 1,337,737 shares of the transportation company's stock valued at $72,171,000 after acquiring an additional 6,803 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX traded down $1.71 during trading on Tuesday, hitting $56.76. 1,566,679 shares of the company were exchanged, compared to its average volume of 2,056,459. The firm's fifty day moving average price is $54.37 and its 200 day moving average price is $51.77. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 246.71, a PEG ratio of 2.00 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 debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings data 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 net margin of 0.50% and a return on equity of 1.81%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business's revenue for the quarter was down 7.1% compared to the same quarter last year. On average, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation's payout ratio is 278.27%.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Director Ploeg David Vander sold 500 shares of the business'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 of the company's stock, valued at $1,754,625.90. The trade was a 1.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

KNX has been the topic of several research reports. Susquehanna lifted their target price on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Stifel Nicolaus lifted their price target on Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Raymond James increased their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a "strong-buy" rating in a report on Monday, October 14th. The Goldman Sachs Group cut their target price on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, Bank of America raised their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $56.38.

Knight-Swift Transportation Company 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.