Knight-Swift Transportation Holdings Inc (KNX) Stake Increased by Wesbanco Bank Inc.

Wesbanco Bank Inc. grew its position in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 31.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 132,253 shares of the transportation company’s stock after acquiring an additional 31,903 shares during the quarter. Wesbanco Bank Inc.’s holdings in Knight-Swift Transportation were worth $4,560,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in KNX. Stratos Wealth Partners LTD. purchased a new position in shares of Knight-Swift Transportation in the 3rd quarter valued at approximately $135,000. First Interstate Bank purchased a new position in shares of Knight-Swift Transportation in the 3rd quarter valued at approximately $194,000. Point72 Hong Kong Ltd raised its position in shares of Knight-Swift Transportation by 97.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 5,642 shares of the transportation company’s stock valued at $216,000 after purchasing an additional 2,789 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Knight-Swift Transportation in the 2nd quarter valued at approximately $240,000. Finally, Homrich & Berg purchased a new position in shares of Knight-Swift Transportation in the 2nd quarter valued at approximately $269,000. Institutional investors and hedge funds own 89.55% of the company’s stock.

KNX opened at $32.82 on Thursday. Knight-Swift Transportation Holdings Inc has a 12-month low of $29.00 and a 12-month high of $51.94. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 0.90 and a beta of 1.51.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Knight-Swift Transportation had a net margin of 13.47% and a return on equity of 7.26%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm posted $0.25 EPS. Knight-Swift Transportation’s revenue for the quarter was up 158.2% compared to the same quarter last year. Analysts expect that Knight-Swift Transportation Holdings Inc will post 2.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Friday, November 30th. Knight-Swift Transportation’s dividend payout ratio is presently 17.39%.

Several equities analysts recently commented on KNX shares. UBS Group decreased their price objective on shares of Knight-Swift Transportation from $57.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. KeyCorp decreased their price objective on shares of Knight-Swift Transportation from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, July 26th. Stifel Nicolaus decreased their price objective on shares of Knight-Swift Transportation from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Buckingham Research decreased their price objective on shares of Knight-Swift Transportation from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Finally, Morgan Stanley decreased their price objective on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, July 26th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.24.

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Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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Want to see what other hedge funds are holding KNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knight-Swift Transportation Holdings Inc (NYSE:KNX).

Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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