Toronto Dominion Bank Boosts Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Toronto Dominion Bank increased its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 31.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,384 shares of the transportation company’s stock after acquiring an additional 4,913 shares during the quarter. Toronto Dominion Bank’s holdings in Knight-Swift Transportation were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in KNX. Blue Trust Inc. boosted its position in Knight-Swift Transportation by 168.3% during the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 579 shares in the last quarter. Raymond James & Associates boosted its position in shares of Knight-Swift Transportation by 126.5% during the second quarter. Raymond James & Associates now owns 74,138 shares of the transportation company’s stock valued at $3,701,000 after purchasing an additional 41,409 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Knight-Swift Transportation by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 25,376 shares of the transportation company’s stock worth $1,267,000 after purchasing an additional 325 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Knight-Swift Transportation in the second quarter worth $256,000. Finally, Ceredex Value Advisors LLC raised its holdings in Knight-Swift Transportation by 3.6% in the second quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock worth $81,729,000 after purchasing an additional 57,493 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

NYSE KNX opened at $54.92 on Tuesday. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99. The stock has a 50-day moving average of $55.10 and a 200 day moving average of $52.38. 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 company has a market capitalization of $8.89 billion, a price-to-earnings ratio of 238.79, a PEG ratio of 1.89 and a beta of 0.96.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. On average, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. Knight-Swift Transportation’s dividend payout ratio is presently 278.27%.

Analyst Upgrades and Downgrades

KNX has been the topic of a number of research reports. TD Cowen boosted their target price 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. Evercore ISI upped their price objective on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Barclays lifted their target price 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. Stifel Nicolaus upped their price target on Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Citigroup cut Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.81.

Insider Activity

In related news, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ploeg David Vander sold 500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the transaction, the director now owns 30,729 shares in the company, valued at $1,754,625.90. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

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.