Neville Rodie & Shaw Inc. maintained its position in shares of Knight Transportation, Inc. (NYSE:KNX) during the second quarter, Holdings Channel reports. The fund owned 19,868 shares of the transportation company’s stock at the end of the second quarter. Neville Rodie & Shaw Inc.’s holdings in Knight Transportation were worth $736,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Knight Transportation during the fourth quarter valued at approximately $3,659,000. State Street Corp boosted its position in shares of Knight Transportation by 11.6% in the fourth quarter. State Street Corp now owns 1,673,420 shares of the transportation company’s stock valued at $55,302,000 after buying an additional 174,137 shares during the period. Renaissance Technologies LLC bought a new position in shares of Knight Transportation during the fourth quarter valued at approximately $4,272,000. GSA Capital Partners LLP bought a new position in shares of Knight Transportation during the fourth quarter valued at approximately $671,000. Finally, Guggenheim Capital LLC boosted its position in shares of Knight Transportation by 199.5% in the fourth quarter. Guggenheim Capital LLC now owns 40,928 shares of the transportation company’s stock valued at $1,353,000 after buying an additional 27,264 shares during the period. 88.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Knight Transportation, Inc. (NYSE:KNX) opened at 37.15 on Monday. The firm has a market capitalization of $2.99 billion, a PE ratio of 35.05 and a beta of 0.87. The stock has a 50 day moving average price of $34.46 and a 200-day moving average price of $33.41. Knight Transportation, Inc. has a 52-week low of $26.85 and a 52-week high of $38.80.
Knight Transportation (NYSE:KNX) last announced its earnings results on Wednesday, April 26th. The transportation company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Knight Transportation had a return on equity of 11.16% and a net margin of 7.61%. The firm had revenue of $271.18 million for the quarter, compared to the consensus estimate of $276.27 million. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Knight Transportation, Inc. will post $1.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 2nd were paid a $0.06 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $0.24 annualized dividend and a yield of 0.65%. Knight Transportation’s payout ratio is 22.86%.
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KNX has been the subject of several recent research reports. Barclays PLC reissued an “underweight” rating and set a $30.00 price target (down from $34.00) on shares of Knight Transportation in a research report on Friday, March 24th. They noted that the move was a valuation call. Deutsche Bank AG raised Knight Transportation from a “hold” rating to a “buy” rating and increased their price target for the company from $33.00 to $40.00 in a research report on Tuesday, April 11th. Bank of America Corporation raised Knight Transportation from a “neutral” rating to a “buy” rating and increased their price target for the company from $37.00 to $41.00 in a research report on Tuesday, April 11th. Stifel Nicolaus reissued a “hold” rating and set a $27.00 price target on shares of Knight Transportation in a research report on Wednesday, April 12th. Finally, Vertical Group initiated coverage on Knight Transportation in a research report on Thursday, April 13th. They set a “buy” rating and a $48.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.60.
In related news, VP James E. Jr. Updike sold 2,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $35.75, for a total value of $100,100.00. Following the transaction, the vice president now owns 16,096 shares in the company, valued at $575,432. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Kevin Quast sold 3,469 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $31.71, for a total value of $110,001.99. Following the completion of the transaction, the chief operating officer now owns 63,497 shares in the company, valued at approximately $2,013,489.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,844 shares of company stock worth $1,626,502. 9.90% of the stock is owned by company insiders.
About Knight Transportation
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. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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