US Bancorp DE lifted its stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,734 shares of the transportation company’s stock after purchasing an additional 4,794 shares during the quarter. US Bancorp DE’s holdings in Knight-Swift Transportation were worth $3,300,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in Knight-Swift Transportation by 79.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,007 shares of the transportation company’s stock valued at $131,000 after acquiring an additional 1,332 shares during the period. Cigna Investments Inc. New acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $206,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $231,000. Atria Investments LLC acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $254,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $278,000. Institutional investors and hedge funds own 80.31% of the company’s stock.
Get Knight-Swift Transportation alerts:Several analysts recently commented on KNX shares. Zacks Investment Research upgraded Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, January 31st. Cowen raised their target price on Knight-Swift Transportation from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. Buckingham Research raised their target price on Knight-Swift Transportation from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Morgan Stanley raised their target price on Knight-Swift Transportation from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, Credit Suisse Group raised their target price on Knight-Swift Transportation from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $52.22.
Shares of NYSE KNX opened at $40.45 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.18 and a beta of 1.72. Knight-Swift Transportation Holdings Inc has a 1 year low of $32.88 and a 1 year high of $51.94.
Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.30 billion. Knight-Swift Transportation had a return on equity of 5.75% and a net margin of 13.22%. The firm’s quarterly revenue was up 368.7% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. equities research analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, May 31st. Knight-Swift Transportation’s dividend payout ratio is presently 17.39%.
In other news, COO Kevin Quast sold 4,508 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $39.98, for a total transaction of $180,229.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin P. Knight sold 69,217 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $40.04, for a total value of $2,771,448.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,794 shares of company stock valued at $3,954,288. Corporate insiders own 27.50% of the company’s stock.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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