Wedge Capital Management L L P NC Has $11.16 Million Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Wedge Capital Management L L P NC trimmed its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,396 shares of the transportation company’s stock after selling 19,673 shares during the quarter. Wedge Capital Management L L P NC owned about 0.13% of Knight-Swift Transportation worth $11,159,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KNX. Franklin Resources Inc. acquired a new position in Knight-Swift Transportation during the third quarter worth $70,185,000. Interval Partners LP boosted its holdings in Knight-Swift Transportation by 8,520.1% during the second quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock valued at $64,547,000 after acquiring an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Knight-Swift Transportation by 1,728.8% during the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock valued at $66,440,000 after acquiring an additional 1,258,157 shares during the period. Millennium Management LLC boosted its holdings in Knight-Swift Transportation by 309.7% during the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock valued at $53,331,000 after acquiring an additional 807,572 shares during the period. Finally, Brandes Investment Partners LP bought a new stake in Knight-Swift Transportation during the second quarter valued at about $30,251,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KNX shares. Barclays upped their price target on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and upped their price target for the company from $48.00 to $67.00 in a report on Friday, January 3rd. Raymond James upped their price target on shares of Knight-Swift Transportation from $60.00 to $62.00 and gave the company a “strong-buy” rating in a report on Friday, January 10th. TD Cowen upped their price target on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and an average target price of $58.56.

Insider Transactions at Knight-Swift Transportation

In related news, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Price Performance

Shares of KNX stock opened at $54.87 on Friday. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $60.99. The stock has a market cap of $8.88 billion, a PE ratio of 238.55, a PEG ratio of 0.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50 day moving average price is $55.39 and its two-hundred day moving average price is $53.25.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.04 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. Knight-Swift Transportation’s dividend payout ratio is 278.27%.

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.