Texas Permanent School Fund Grows Position in Knight-Swift Transportation Holdings Inc (KNX)

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Texas Permanent School Fund lifted its position in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,579 shares of the transportation company’s stock after acquiring an additional 2,343 shares during the period. Texas Permanent School Fund’s holdings in Knight-Swift Transportation were worth $2,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its position in shares of Knight-Swift Transportation by 10.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,650 shares of the transportation company’s stock valued at $117,000 after acquiring an additional 450 shares during the period. Campbell Newman Asset Management Inc. increased its position in shares of Knight-Swift Transportation by 2.4% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 19,167 shares of the transportation company’s stock valued at $626,000 after acquiring an additional 457 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Knight-Swift Transportation by 2.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,380 shares of the transportation company’s stock valued at $633,000 after acquiring an additional 543 shares during the period. Wright Investors Service Inc. increased its position in shares of Knight-Swift Transportation by 5.5% in the 4th quarter. Wright Investors Service Inc. now owns 10,448 shares of the transportation company’s stock valued at $262,000 after acquiring an additional 548 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Knight-Swift Transportation by 2.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 29,200 shares of the transportation company’s stock valued at $732,000 after acquiring an additional 600 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:KNX traded up $0.34 during mid-day trading on Thursday, hitting $31.33. The company’s stock had a trading volume of 22,987 shares, compared to its average volume of 2,137,154. Knight-Swift Transportation Holdings Inc has a 1 year low of $23.27 and a 1 year high of $43.35. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.73 and a beta of 1.90.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. Knight-Swift Transportation had a net margin of 8.28% and a return on equity of 8.69%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. As a group, equities research analysts predict that Knight-Swift Transportation Holdings Inc will post 2.69 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, May 31st. Knight-Swift Transportation’s payout ratio is 9.38%.

In other news, VP Shannon Breen sold 750 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $34.09, for a total transaction of $25,567.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary J. Knight sold 180,368 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $33.18, for a total transaction of $5,984,610.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 336,828 shares of company stock worth $11,196,519. 27.50% of the stock is owned by corporate insiders.

KNX has been the topic of several research reports. ValuEngine downgraded Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. TheStreet raised shares of Knight-Swift Transportation from a “c+” rating to a “b-” rating in a report on Wednesday, February 13th. Zacks Investment Research raised shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, February 1st. Finally, Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $44.45.

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Knight-Swift Transportation Profile

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.

Further Reading: What is a Derivative?

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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