Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by Nuance Investments LLC

Key Points

• Nuance Investments LLC significantly reduced its position in Knight-Swift Transportation, selling 787,300 shares and decreasing its holdings by 70.4% in the first quarter.
• Several institutional investors, including Cerity Partners and Wealth Enhancement Advisory Services, increased their stakes in Knight-Swift, with Cerity Partners raising theirs by 611.7%.
• The company reported an earnings per share (EPS) of $0.35 for the last quarter, slightly exceeding analyst estimates, with a revenue increase of 0.8% year-over-year despite a small miss on revenue projections.

Nuance Investments LLC cut its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 70.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 330,596 shares of the transportation company's stock after selling 787,300 shares during the quarter. Knight-Swift Transportation comprises 0.9% of Nuance Investments LLC's portfolio, making the stock its 27th biggest position. Nuance Investments LLC owned about 0.20% of Knight-Swift Transportation worth $14,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in Knight-Swift Transportation by 611.7% during the first quarter. Cerity Partners LLC now owns 34,074 shares of the transportation company's stock worth $1,482,000 after acquiring an additional 29,286 shares during the last quarter. Aviance Capital Partners LLC increased its stake in Knight-Swift Transportation by 6.3% during the first quarter. Aviance Capital Partners LLC now owns 110,932 shares of the transportation company's stock worth $4,824,000 after acquiring an additional 6,592 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Knight-Swift Transportation by 668.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,743 shares of the transportation company's stock worth $1,511,000 after acquiring an additional 30,219 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Knight-Swift Transportation by 533.9% during the first quarter. Assenagon Asset Management S.A. now owns 33,614 shares of the transportation company's stock worth $1,462,000 after acquiring an additional 28,311 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Knight-Swift Transportation by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 18,968 shares of the transportation company's stock worth $824,000 after acquiring an additional 510 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Trading Down 0.4%

Shares of KNX opened at $40.96 on Tuesday. The company has a market capitalization of $6.65 billion, a P/E ratio of 40.15, a P/E/G ratio of 0.62 and a beta of 1.17. Knight-Swift Transportation Holdings Inc. has a one year low of $36.69 and a one year high of $61.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50-day moving average price of $44.42 and a 200 day moving average price of $45.53.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. Knight-Swift Transportation had a return on equity of 3.03% and a net margin of 2.22%. Knight-Swift Transportation's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. Sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.8%. Knight-Swift Transportation's dividend payout ratio is currently 70.59%.

Analysts Set New Price Targets

Several brokerages have commented on KNX. The Goldman Sachs Group upgraded Knight-Swift Transportation from a "neutral" rating to a "buy" rating and upped their price target for the stock from $45.00 to $65.00 in a research note on Monday, June 2nd. Barclays dropped their price target on Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Evercore ISI lowered their target price on Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a research note on Thursday, April 24th. Raymond James Financial increased their target price on Knight-Swift Transportation from $50.00 to $55.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 15th. Finally, TD Cowen lowered their target price on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.88.

Knight-Swift Transportation Company Profile

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.

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