DNB Asset Management AS Buys 2,138 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

DNB Asset Management AS lifted its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 8.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 28,299 shares of the transportation company’s stock after acquiring an additional 2,138 shares during the period. DNB Asset Management AS’s holdings in Knight-Swift Transportation were worth $1,413,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KNX. EverSource Wealth Advisors LLC lifted its holdings in Knight-Swift Transportation by 0.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 40,074 shares of the transportation company’s stock worth $2,310,000 after purchasing an additional 209 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Knight-Swift Transportation by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 77,858 shares of the transportation company’s stock worth $4,489,000 after buying an additional 212 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Knight-Swift Transportation by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 74,221 shares of the transportation company’s stock worth $4,139,000 after buying an additional 223 shares during the period. Sompo Asset Management Co. Ltd. grew its stake in Knight-Swift Transportation by 4.8% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 5,000 shares of the transportation company’s stock valued at $288,000 after buying an additional 230 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Knight-Swift Transportation by 67.5% in the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Wall Street Analyst Weigh In

KNX has been the subject of a number of recent analyst reports. Wells Fargo & Company began coverage on shares of Knight-Swift Transportation in a report on Friday, June 7th. They set an “overweight” rating and a $56.00 price target for the company. TD Cowen raised their target price on Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Robert W. Baird dropped their price target on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Finally, UBS Group cut their target price on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and an average target price of $56.79.

Insider Transactions at Knight-Swift Transportation

In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total transaction of $304,679.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the sale, the chairman now owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total transaction of $304,679.04. The disclosure for this sale can be found here. Insiders have sold a total of 80,696 shares of company stock valued at $4,133,429 over the last 90 days. 3.00% of the stock is owned by company insiders.

Knight-Swift Transportation Price Performance

KNX opened at $52.78 on Wednesday. The company has a fifty day moving average price of $49.46 and a two-hundred day moving average price of $51.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.88. The firm has a market capitalization of $8.53 billion, a PE ratio of 78.39, a P/E/G ratio of 1.36 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.13 earnings per share for the current year.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.