Bank of Nova Scotia Takes Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Bank of Nova Scotia bought a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,614 shares of the transportation company’s stock, valued at approximately $242,000.

A number of other large investors have also modified their holdings of the stock. Fifth Third Bancorp grew its stake in shares of Knight-Swift Transportation by 42.4% in the fourth quarter. Fifth Third Bancorp now owns 594 shares of the transportation company’s stock valued at $31,000 after buying an additional 177 shares in the last quarter. Intech Investment Management LLC grew its stake in Knight-Swift Transportation by 2.5% during the 3rd quarter. Intech Investment Management LLC now owns 8,243 shares of the transportation company’s stock valued at $403,000 after purchasing an additional 199 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Knight-Swift Transportation by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 22,490 shares of the transportation company’s stock valued at $1,178,000 after purchasing an additional 205 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Knight-Swift Transportation by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 16,016 shares of the transportation company’s stock valued at $839,000 after purchasing an additional 206 shares in the last quarter. Finally, Prospera Financial Services Inc grew its stake in Knight-Swift Transportation by 3.8% during the 4th quarter. Prospera Financial Services Inc now owns 5,693 shares of the transportation company’s stock valued at $298,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 89.95% of the company’s stock.

Insider Transactions at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 64,139 shares of Knight-Swift Transportation stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $56.59, for a total value of $3,629,626.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Kevin P. Knight sold 64,139 shares of Knight-Swift Transportation stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $56.59, for a total value of $3,629,626.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Timothy Sean Harrington sold 1,700 shares of Knight-Swift Transportation stock in a transaction on Monday, May 1st. The stock was sold at an average price of $56.98, for a total value of $96,866.00. Following the completion of the transaction, the executive vice president now owns 4,582 shares in the company, valued at $261,082.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,139 shares of company stock valued at $3,799,422. Corporate insiders own 3.10% of the company’s stock.

Knight-Swift Transportation Stock Up 2.8 %

Shares of Knight-Swift Transportation stock opened at $56.36 on Friday. The business’s fifty day moving average price is $55.83 and its two-hundred day moving average price is $55.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market capitalization of $9.08 billion, a P/E ratio of 13.68, a PEG ratio of 1.10 and a beta of 1.15. Knight-Swift Transportation Holdings Inc. has a 1-year low of $43.53 and a 1-year high of $64.35.

Knight-Swift Transportation (NYSE:KNX – Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The transportation company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). Knight-Swift Transportation had a return on equity of 10.42% and a net margin of 9.22%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm posted $1.35 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 3.32 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 27th. Stockholders of record on Friday, June 9th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, June 8th. Knight-Swift Transportation’s dividend payout ratio is presently 13.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KNX shares. TD Cowen lowered their price objective on Knight-Swift Transportation from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. Stephens reiterated an “overweight” rating and issued a $70.00 target price on shares of Knight-Swift Transportation in a research report on Friday, April 21st. StockNews.com initiated coverage on Knight-Swift Transportation in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Barclays lifted their target price on Knight-Swift Transportation from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on Knight-Swift Transportation from $51.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, January 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.35.

Knight-Swift Transportation Profile

(Get Rating)

Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.