Public Employees Retirement System of Ohio Cuts Stock Position in Knight-Swift Transportation Holdings Inc (NYSE:KNX)

Public Employees Retirement System of Ohio lowered its position in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 8.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 141,874 shares of the transportation company’s stock after selling 12,486 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.08% of Knight-Swift Transportation worth $4,659,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Tiverton Asset Management LLC grew its position in shares of Knight-Swift Transportation by 5.0% in the 2nd quarter. Tiverton Asset Management LLC now owns 336,996 shares of the transportation company’s stock worth $11,067,000 after buying an additional 15,953 shares during the last quarter. Brown Advisory Inc. boosted its stake in Knight-Swift Transportation by 0.5% in the 2nd quarter. Brown Advisory Inc. now owns 1,411,424 shares of the transportation company’s stock worth $46,351,000 after purchasing an additional 6,453 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Knight-Swift Transportation by 3.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 147,103 shares of the transportation company’s stock worth $4,831,000 after purchasing an additional 4,534 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Knight-Swift Transportation in the 2nd quarter worth approximately $1,627,000. Finally, Pitcairn Co. boosted its stake in Knight-Swift Transportation by 4.3% in the 2nd quarter. Pitcairn Co. now owns 15,688 shares of the transportation company’s stock worth $515,000 after purchasing an additional 649 shares in the last quarter. 83.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Knight-Swift Transportation stock traded up $0.37 during trading hours on Friday, reaching $36.98. 35,729 shares of the company’s stock were exchanged, compared to its average volume of 2,146,391. Knight-Swift Transportation Holdings Inc has a 1 year low of $23.27 and a 1 year high of $39.26. The company has a market capitalization of $6.24 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 1.03 and a beta of 1.97. The business has a fifty day moving average of $34.59 and a two-hundred day moving average of $33.11. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.15.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ 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 prior year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, research analysts predict that Knight-Swift Transportation Holdings Inc will post 2.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, August 30th. Knight-Swift Transportation’s payout ratio is 9.38%.

A number of analysts recently commented on KNX shares. Citigroup lifted their target price on shares of Knight-Swift Transportation from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Morgan Stanley set a $48.00 target price on shares of Knight-Swift Transportation and gave the stock a “buy” rating in a research note on Monday, July 8th. Knight Equity started coverage on shares of Knight-Swift Transportation in a research note on Thursday, September 5th. They issued a “positive” rating and a $40.00 target price for the company. ValuEngine upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Susquehanna Bancshares assumed coverage on shares of Knight-Swift Transportation in a research note on Thursday, September 5th. They set a “positive” rating and a $40.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $42.46.

In other news, COO Kevin Quast sold 4,703 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $33.36, for a total transaction of $156,892.08. Following the completion of the sale, the chief operating officer now owns 11,602 shares of the company’s stock, valued at $387,042.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 27.50% of the stock is owned by corporate insiders.

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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