TD Asset Management Inc. raised its position in shares of Knight Transportation, Inc. (NYSE:KNX) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,885 shares of the transportation company’s stock after buying an additional 1,000 shares during the period. TD Asset Management Inc.’s holdings in Knight Transportation were worth $1,218,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Knight Transportation by 9.5% in the first quarter. Geode Capital Management LLC now owns 508,907 shares of the transportation company’s stock worth $15,953,000 after buying an additional 44,148 shares during the period. State of Tennessee Treasury Department raised its stake in Knight Transportation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 62,148 shares of the transportation company’s stock worth $1,948,000 after buying an additional 9,379 shares during the period. Vanguard Group Inc. raised its stake in Knight Transportation by 5.1% in the first quarter. Vanguard Group Inc. now owns 5,689,091 shares of the transportation company’s stock worth $178,353,000 after buying an additional 275,392 shares during the period. Wellington Management Group LLP raised its stake in Knight Transportation by 3.4% in the first quarter. Wellington Management Group LLP now owns 9,403,622 shares of the transportation company’s stock worth $294,802,000 after buying an additional 309,790 shares during the period. Finally, Granite Investment Partners LLC raised 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 period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Knight Transportation, Inc. (NYSE KNX) opened at 37.55 on Friday. Knight Transportation, Inc. has a 52 week low of $26.85 and a 52 week high of $38.80. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 38.71 and a beta of 0.86. The company has a 50-day moving average price of $36.40 and a 200 day moving average price of $34.22.

Knight Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 26th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. Knight Transportation had a net margin of 7.03% and a return on equity of 10.39%. The business had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $283.88 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts expect that Knight Transportation, Inc. will post $0.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.64%. Knight Transportation’s payout ratio is 25.00%.

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A number of analysts have issued reports on KNX shares. Buckingham Research started coverage on Knight Transportation in a report on Monday, August 21st. They issued a “buy” rating and a $43.00 target price on the stock. BidaskClub raised Knight Transportation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Deutsche Bank AG set a $45.00 target price on Knight Transportation and gave the company a “buy” rating in a report on Monday, July 31st. Stephens raised Knight Transportation from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $36.00 to $42.00 in a report on Monday, June 12th. Finally, Zacks Investment Research lowered Knight Transportation from a “buy” rating to a “hold” rating in a report on Saturday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.44.

In other news, General Counsel Todd F. Carlson sold 3,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $37.86, for a total value of $113,580.00. Following the transaction, the general counsel now owns 23,638 shares of the company’s stock, valued at $894,934.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James E. Jr. Updike sold 2,800 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $35.75, for a total transaction of $100,100.00. Following the completion of the transaction, the vice president now directly owns 16,096 shares in the company, valued at approximately $575,432. The disclosure for this sale can be found here. Insiders have sold a total of 7,675 shares of company stock worth $282,155 in the last three months. Insiders own 9.90% of the company’s stock.

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. 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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