State of New Jersey Common Pension Fund D Reduces Position in Knight-Swift Transportation Holdings Inc (NYSE:KNX)

State of New Jersey Common Pension Fund D cut its position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 4.4% in the second quarter, Holdings Channel.com reports. The firm owned 860,000 shares of the transportation company’s stock after selling 40,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Knight-Swift Transportation were worth $28,242,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new position in shares of Knight-Swift Transportation during the 1st quarter worth about $28,000. Robeco Institutional Asset Management B.V. purchased a new stake in Knight-Swift Transportation in the 2nd quarter valued at about $35,000. First Hawaiian Bank purchased a new stake in Knight-Swift Transportation in the 1st quarter valued at about $54,000. Enterprise Financial Services Corp purchased a new stake in Knight-Swift Transportation in the 1st quarter valued at about $71,000. Finally, Advisory Services Network LLC boosted its position in Knight-Swift Transportation by 20.0% in the 1st quarter. Advisory Services Network LLC now owns 4,200 shares of the transportation company’s stock valued at $137,000 after buying an additional 700 shares during the period. 82.81% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:KNX traded down $0.26 during trading hours on Tuesday, hitting $36.90. The company’s stock had a trading volume of 65,795 shares, compared to its average volume of 2,433,189. Knight-Swift Transportation Holdings Inc has a 52 week low of $23.27 and a 52 week high of $39.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $6.33 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.02 and a beta of 1.99. The company’s fifty day moving average is $33.57.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Knight-Swift Transportation had a net margin of 8.19% and a return on equity of 8.66%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $0.27 EPS. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.4 EPS for the current year.

KNX has been the subject of several research reports. Stephens set a $112.00 price objective on shares of Genesee & Wyoming and gave the company a “hold” rating in a research report on Monday, July 1st. Morgan Stanley set a $36.00 price objective on shares of ArcBest and gave the company a “hold” rating in a research report on Monday, July 8th. Citigroup lowered their price objective on shares of Cimarex Energy from $98.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. KeyCorp cut shares of Masco from an “overweight” rating to a “sector weight” rating in a research report on Thursday, July 25th. Finally, Bank of America cut shares of TAL Education Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Knight-Swift Transportation has a consensus rating of “Buy” and an average target price of $42.91.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation 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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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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