Metropolitan Life Insurance Co NY trimmed its holdings in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,270 shares of the transportation company’s stock after selling 1,401 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Knight-Swift Transportation were worth $1,244,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in KNX. Captrust Financial Advisors acquired a new position in shares of Knight-Swift Transportation during the 2nd quarter valued at $25,000. Steward Partners Investment Advisory LLC bought a new stake in Knight-Swift Transportation in the second quarter valued at $25,000. First National Bank of South Miami bought a new stake in Knight-Swift Transportation in the second quarter valued at $28,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Knight-Swift Transportation during the second quarter valued at about $35,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Knight-Swift Transportation during the second quarter valued at about $40,000. 84.99% of the stock is owned by institutional investors.
KNX opened at $36.38 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.29 and a quick ratio of 1.29. Knight-Swift Transportation Holdings Inc has a fifty-two week low of $23.27 and a fifty-two week high of $39.37. The firm has a market capitalization of $6.21 billion, a PE ratio of 14.21, a P/E/G ratio of 1.10 and a beta of 1.89. The company’s 50-day moving average is $37.26 and its 200 day moving average is $34.54.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.66%. Knight-Swift Transportation’s dividend payout ratio is presently 9.38%.
KNX has been the subject of several research reports. Cowen set a $39.00 target price on Knight-Swift Transportation and gave the company a “hold” rating in a research note on Tuesday, October 15th. Knight Equity initiated coverage on Knight-Swift Transportation in a research note on Thursday, September 5th. They set a “positive” rating and a $40.00 price target on the stock. Susquehanna Bancshares started coverage on Knight-Swift Transportation in a research note on Thursday, September 5th. They set a “positive” rating and a $40.00 price target on the stock. Credit Suisse Group set a $30.00 price target on Knight-Swift Transportation and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Goldman Sachs Group started coverage on Knight-Swift Transportation in a report on Thursday. They set a “buy” rating and a $45.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.50.
In related news, Chairman Kevin P. Knight sold 121,496 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $38.40, for a total value of $4,665,446.40. Also, Director Ploeg David Vander sold 2,760 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $38.40, for a total value of $105,984.00. Insiders sold 129,034 shares of company stock worth $4,951,289 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.
About Knight-Swift Transportation
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.
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