86,827 Shares in Knight-Swift Transportation Holdings Inc. $KNX Purchased by Glenview Trust Co

Key Points

• Glenview Trust Co. acquired 86,827 shares of Knight-Swift Transportation during the third quarter, worth approximately $5.5 million. Institutional investors collectively own 88.77% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $83.22.
• Knight-Swift exceeded quarterly expectations, reporting $0.83 in earnings per share and $2.20 billion in revenue, while paying a quarterly dividend of $0.20 per share.

Glenview Trust Co acquired a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,827 shares of the transportation company's stock, valued at approximately $5,521,000. Glenview Trust Co owned about 0.05% of Knight-Swift Transportation as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC increased its position in shares of Knight-Swift Transportation by 23.3% during the 3rd quarter. Parcion Private Wealth LLC now owns 4,370 shares of the transportation company's stock worth $278,000 after purchasing an additional 825 shares during the last quarter. Soltis Investment Advisors LLC purchased a new position in shares of Knight-Swift Transportation during the 3rd quarter worth approximately $207,000. North Dakota State Investment Board increased its holdings in Knight-Swift Transportation by 3.4% in the 3rd quarter. North Dakota State Investment Board now owns 4,842 shares of the transportation company's stock valued at $308,000 after purchasing an additional 160 shares during the last quarter. VestGen Advisors LLC raised its position in Knight-Swift Transportation by 6.1% in the third quarter. VestGen Advisors LLC now owns 4,764 shares of the transportation company's stock valued at $303,000 after purchasing an additional 274 shares during the period. Finally, Apollon Wealth Management LLC lifted its stake in Knight-Swift Transportation by 18.5% during the third quarter. Apollon Wealth Management LLC now owns 3,147 shares of the transportation company's stock worth $200,000 after purchasing an additional 491 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KNX shares. Citigroup reaffirmed a "market outperform" rating on shares of Knight-Swift Transportation in a research note on Thursday, October 22nd. Morgan Stanley set a $90.00 price objective on shares of Knight-Swift Transportation in a report on Wednesday, September 2nd. Raymond James Financial reissued a "strong-buy" rating and issued a $84.00 price target on shares of Knight-Swift Transportation in a research report on Thursday, October 22nd. Wells Fargo & Company reduced their price objective on Knight-Swift Transportation from $81.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, October 22nd. Finally, JPMorgan Chase & Co. upped their price target on Knight-Swift Transportation from $68.00 to $74.00 and gave the stock a "neutral" rating in a report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.22.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director David Vander Ploeg sold 2,200 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total transaction of $115,126.00. Following the transaction, the director owned 30,252 shares of the company's stock, valued at approximately $1,583,087.16. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Reid Dove sold 126,864 shares of Knight-Swift Transportation stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $73.13, for a total value of $9,277,564.32. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 171,354 shares of company stock worth $12,416,002 over the last quarter. 2.90% of the stock is owned by company insiders.

Knight-Swift Transportation Trading Down 0.8%

KNX opened at $60.65 on Friday. Knight-Swift Transportation Holdings Inc. has a one year low of $41.24 and a one year high of $82.86. The company has a market cap of $9.87 billion, a P/E ratio of 65.22, a PEG ratio of 0.50 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.88 and a current ratio of 0.91. The business's 50-day simple moving average is $65.80 and its 200-day simple moving average is $65.94.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its earnings results on Wednesday, October 21st. The transportation company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.16 billion. Knight-Swift Transportation had a return on equity of 4.71% and a net margin of 1.92%. The firm's revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share. As a group, equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.45 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were issued a $0.20 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. Knight-Swift Transportation's dividend payout ratio is presently 86.02%.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.

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