Knight Transportation Inc. (KNX) Position Maintained by Dudley & Shanley LLC
Dudley & Shanley LLC held its stake in shares of Knight Transportation Inc. (NYSE:KNX) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 979,770 shares of the company’s stock at the end of the second quarter. Knight Transportation accounts for approximately 5.9% of Dudley & Shanley LLC’s investment portfolio, making the stock its 5th largest position. Dudley & Shanley LLC owned 1.22% of Knight Transportation worth $26,042,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Capstone Asset Management Co. raised its stake in shares of Knight Transportation by 0.7% in the second quarter. Capstone Asset Management Co. now owns 18,117 shares of the company’s stock worth $482,000 after buying an additional 120 shares during the period. Huntington National Bank raised its stake in shares of Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock worth $180,000 after buying an additional 471 shares during the period. Creative Planning raised its stake in shares of Knight Transportation by 57.1% in the second quarter. Creative Planning now owns 5,500 shares of the company’s stock worth $146,000 after buying an additional 2,000 shares during the period. Royal Bank of Canada raised its stake in shares of Knight Transportation by 0.3% in the first quarter. Royal Bank of Canada now owns 723,260 shares of the company’s stock worth $18,914,000 after buying an additional 2,159 shares during the period. Finally, RS Investment Management Co. LLC raised its stake in shares of Knight Transportation by 0.3% in the second quarter. RS Investment Management Co. LLC now owns 716,745 shares of the company’s stock worth $19,051,000 after buying an additional 2,175 shares during the period. Institutional investors own 91.14% of the company’s stock.
Shares of Knight Transportation Inc. (NYSE:KNX) traded down 0.40% during midday trading on Monday, reaching $27.20. The company had a trading volume of 426,053 shares. The stock has a market capitalization of $2.18 billion, a PE ratio of 20.75 and a beta of 0.83. The stock’s 50 day moving average is $28.50 and its 200-day moving average is $27.36. Knight Transportation Inc. has a 12-month low of $20.56 and a 12-month high of $30.38.
Knight Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. The business earned $276.30 million during the quarter, compared to analysts’ expectations of $283.13 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities research analysts predict that Knight Transportation Inc. will post $1.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.24 dividend on an annualized basis and a yield of 0.88%. Knight Transportation’s payout ratio is presently 18.18%.
A number of brokerages have recently weighed in on KNX. Avondale Partners lowered Knight Transportation from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $27.00 to $21.00 in a research note on Thursday, June 23rd. BB&T Corp. reiterated a “hold” rating on shares of Knight Transportation in a report on Friday, July 1st. Citigroup Inc. raised their price target on Knight Transportation from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 11th. Bank of America Corp. reiterated a “neutral” rating and issued a $29.00 price target (up previously from $28.00) on shares of Knight Transportation in a report on Tuesday, June 21st. Finally, Macquarie cut Knight Transportation from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $27.00 in a report on Thursday, July 28th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $27.06.
In other Knight Transportation news, Vice Chairman Gary J. Knight sold 99,339 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $28.09, for a total value of $2,790,432.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Wayne Yu sold 3,200 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $29.59, for a total value of $94,688.00. Following the completion of the sale, the vice president now owns 8,279 shares in the company, valued at approximately $244,975.61. The disclosure for this sale can be found here. 11.60% of the stock is owned by company insiders.
Knight Transportation Company Profile
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. The Company operates primarily in the United States with minor operations in Canada and Mexico.
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