Vanguard Group Inc. Acquires 275,392 Shares of Knight Transportation, Inc. (NYSE:KNX)

Vanguard Group Inc. raised its position in shares of Knight Transportation, Inc. (NYSE:KNX) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,689,091 shares of the transportation company’s stock after buying an additional 275,392 shares during the period. Vanguard Group Inc. owned approximately 7.08% of Knight Transportation worth $178,353,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its stake in Knight Transportation by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,180 shares of the transportation company’s stock worth $476,000 after buying an additional 150 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Knight Transportation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 7,360 shares of the transportation company’s stock worth $230,000 after buying an additional 170 shares during the last quarter. Flinton Capital Management LLC increased its stake in Knight Transportation by 0.3% in the first quarter. Flinton Capital Management LLC now owns 128,080 shares of the transportation company’s stock worth $4,015,000 after buying an additional 368 shares during the last quarter. Granite Investment Partners LLC increased its stake in Knight Transportation by 1.6% in the first quarter. Granite Investment Partners LLC now owns 23,659 shares of the transportation company’s stock worth $742,000 after buying an additional 369 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Knight Transportation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 27,200 shares of the transportation company’s stock worth $853,000 after buying an additional 500 shares during the last quarter. Institutional investors own 88.44% of the company’s stock.

Knight Transportation, Inc. (NYSE KNX) opened at 35.85 on Tuesday. Knight Transportation, Inc. has a 52-week low of $26.85 and a 52-week high of $38.80. The company’s 50 day moving average is $34.46 and its 200-day moving average is $33.41. The stock has a market cap of $2.88 billion, a PE ratio of 33.82 and a beta of 0.87.

Knight Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 26th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Knight Transportation had a net margin of 7.61% and a return on equity of 11.16%. The firm had revenue of $271.18 million during the quarter, compared to the consensus estimate of $276.27 million. During the same period in the previous year, the firm earned $0.28 earnings per share. Knight Transportation’s revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that Knight Transportation, Inc. will post $1.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 2nd were issued a $0.06 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. Knight Transportation’s payout ratio is 22.86%.

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A number of research firms have commented on KNX. UBS AG upgraded shares of Knight Transportation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $35.00 to $43.00 in a report on Monday, April 24th. Zacks Investment Research downgraded shares of Knight Transportation from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a report on Wednesday, July 12th. BidaskClub downgraded shares of Knight Transportation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Bank of America Corporation reiterated a “buy” rating and issued a $43.00 price objective (up previously from $41.00) on shares of Knight Transportation in a report on Monday, July 10th. Finally, Stephens upgraded shares of Knight Transportation from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $36.00 to $42.00 in a report on Monday, June 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $37.06.

In other Knight Transportation news, VP James E. Jr. Updike sold 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $35.75, for a total transaction of $100,100.00. Following the completion of the sale, the vice president now directly owns 16,096 shares in the company, valued at $575,432. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Kevin Quast sold 3,469 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $31.71, for a total transaction of $110,001.99. Following the sale, the chief operating officer now owns 63,497 shares of the company’s stock, valued at $2,013,489.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,844 shares of company stock valued at $1,626,502. 9.90% of the stock is owned by insiders.

About Knight Transportation

Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.

Institutional Ownership by Quarter for Knight Transportation (NYSE:KNX)

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