California Public Employees Retirement System reduced its position in Knight Transportation Inc. (NYSE:KNX) by 4.9% during the third quarter, Holdings Channel reports. The fund owned 139,800 shares of the company’s stock after selling 7,200 shares during the period. California Public Employees Retirement System owned about 0.17% of Knight Transportation worth $4,011,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of KNX. Bank of New York Mellon Corp boosted its position in shares of Knight Transportation by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 4,917,991 shares of the company’s stock worth $130,719,000 after buying an additional 361,291 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Knight Transportation by 1.8% in the second quarter. Vanguard Group Inc. now owns 4,788,436 shares of the company’s stock worth $127,277,000 after buying an additional 83,623 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Knight Transportation by 5.0% in the second quarter. BlackRock Fund Advisors now owns 4,053,834 shares of the company’s stock worth $107,751,000 after buying an additional 192,329 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Knight Transportation by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,134,985 shares of the company’s stock worth $83,326,000 after buying an additional 281,135 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Knight Transportation by 6.9% in the second quarter. JPMorgan Chase & Co. now owns 2,369,358 shares of the company’s stock worth $62,978,000 after buying an additional 153,119 shares during the last quarter. 94.25% of the stock is owned by institutional investors and hedge funds.

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

Shares of Knight Transportation Inc. (NYSE:KNX) traded down 1.30% on Tuesday, reaching $34.25. The company’s stock had a trading volume of 1,517,380 shares. Knight Transportation Inc. has a 12-month low of $20.56 and a 12-month high of $35.55. The company has a market cap of $2.74 billion, a P/E ratio of 27.82 and a beta of 0.73. The company’s 50 day moving average price is $30.71 and its 200 day moving average price is $28.44.

Knight Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The firm had revenue of $280.50 million for the quarter, compared to the consensus estimate of $279.34 million. Knight Transportation had a return on equity of 13.37% and a net margin of 8.92%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. Analysts forecast that Knight Transportation Inc. will post $1.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 27th. Stockholders of record on Friday, December 2nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.70%. Knight Transportation’s dividend payout ratio is currently 19.35%.

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A number of equities analysts have issued reports on KNX shares. Knight Equity started coverage on Knight Transportation in a report on Wednesday, November 2nd. They issued a “hold” rating and a $32.00 target price for the company. Citigroup Inc. upped their target price on Knight Transportation from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, September 16th. Barclays PLC upped their target price on Knight Transportation from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, September 12th. Zacks Investment Research cut Knight Transportation from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Finally, Deutsche Bank AG assumed coverage on Knight Transportation in a research report on Wednesday, November 2nd. They issued a “hold” rating and a $32.00 price target on the stock. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $27.44.

In other news, Vice Chairman Gary J. Knight sold 99,339 shares of Knight Transportation 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 filing with the SEC, which is available at this link. 11.60% of the stock is owned by 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.

5 Day Chart for NYSE:KNX

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