Thrivent Financial for Lutherans cut its stake in shares of Knight Transportation (NYSE:KNX) by 73.1% during the fourth quarter, Holdings Channel reports. The fund owned 35,720 shares of the company’s stock after selling 97,030 shares during the period. Thrivent Financial for Lutherans’ holdings in Knight Transportation were worth $1,181,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Bank of Montreal Can increased its position in Knight Transportation by 2.8% in the third quarter. Bank of Montreal Can now owns 4,093 shares of the company’s stock valued at $118,000 after buying an additional 110 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Knight Transportation by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,530 shares of the company’s stock valued at $388,000 after buying an additional 210 shares during the last quarter. Aperio Group LLC increased its position in Knight Transportation by 1.6% in the third quarter. Aperio Group LLC now owns 20,413 shares of the company’s stock valued at $586,000 after buying an additional 322 shares during the last quarter. US Bancorp DE increased its position in Knight Transportation by 3.5% in the third quarter. US Bancorp DE now owns 12,848 shares of the company’s stock valued at $369,000 after buying an additional 439 shares during the last quarter. Finally, American International Group Inc. increased its position in Knight Transportation by 1.8% in the third quarter. American International Group Inc. now owns 49,708 shares of the company’s stock valued at $1,426,000 after buying an additional 886 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.
Knight Transportation (NYSE:KNX) opened at 32.75 on Tuesday. The stock has a 50 day moving average of $32.82 and a 200 day moving average of $31.87. The company has a market cap of $2.63 billion, a PE ratio of 28.23 and a beta of 0.74. Knight Transportation has a 12-month low of $23.99 and a 12-month high of $38.80.
Knight Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 25th. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $289.10 million for the quarter, compared to the consensus estimate of $285.76 million. Knight Transportation had a net margin of 8.30% and a return on equity of 12.58%. Knight Transportation’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. Equities analysts expect that Knight Transportation will post $1.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Shareholders of record on Friday, March 3rd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, March 1st. Knight Transportation’s dividend payout ratio (DPR) is presently 20.87%.
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Several equities analysts recently commented on the company. Seaport Global Securities assumed coverage on Knight Transportation in a research note on Sunday, December 18th. They issued a “buy” rating and a $42.00 price objective on the stock. Stifel Nicolaus upgraded Knight Transportation from a “sell” rating to a “hold” rating and upped their price objective for the company from $28.00 to $29.00 in a research note on Friday, February 10th. Cowen and Company upped their price objective on Knight Transportation from $25.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, January 26th. Credit Suisse Group AG reiterated a “neutral” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Knight Transportation in a research note on Tuesday, March 7th. Finally, Zacks Investment Research downgraded Knight Transportation from a “hold” rating to a “strong sell” rating in a research note on Monday, January 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Knight Transportation presently has an average rating of “Hold” and a consensus target price of $29.64.
Knight Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. The Company operates primarily in the United States with minor operations in Canada and Mexico.
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