Tokio Marine Asset Management Co. Ltd. Grows Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,826 shares of the transportation company’s stock after purchasing an additional 556 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Knight-Swift Transportation were worth $368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Knight-Swift Transportation during the first quarter worth about $1,935,000. Wedge Capital Management L L P NC boosted its stake in shares of Knight-Swift Transportation by 9.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 263,033 shares of the transportation company’s stock worth $13,131,000 after acquiring an additional 21,689 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Knight-Swift Transportation by 21.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,821 shares of the transportation company’s stock worth $4,942,000 after acquiring an additional 15,600 shares during the period. Swedbank AB purchased a new position in Knight-Swift Transportation in the 1st quarter valued at approximately $3,162,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Knight-Swift Transportation by 12.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 133,178 shares of the transportation company’s stock worth $7,328,000 after purchasing an additional 15,040 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $55.63 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $9.01 billion, a PE ratio of 241.87, a price-to-earnings-growth ratio of 2.09 and a beta of 0.93. The business’s 50-day moving average price is $53.08 and its 200 day moving average price is $51.00. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company earned $0.41 earnings per share. The company’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued 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 dividend yield of 1.15%. Knight-Swift Transportation’s payout ratio is 278.26%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

KNX has been the topic of several research reports. Raymond James upped their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a report on Monday, October 14th. Stifel Nicolaus raised their target price on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a report on Friday, October 25th. Morgan Stanley reduced their price target on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Evercore ISI upped their target price on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.38.

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.