First Western Trust Bank purchased a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 54,105 shares of the transportation company's stock, valued at approximately $2,835,000.
Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Knight-Swift Transportation by 2.3% in the first quarter. BlackRock Inc. now owns 16,645,263 shares of the transportation company's stock valued at $839,919,000 after acquiring an additional 373,181 shares during the period. Vanguard Group Inc. lifted its holdings in Knight-Swift Transportation by 0.6% in the first quarter. Vanguard Group Inc. now owns 13,894,447 shares of the transportation company's stock valued at $701,114,000 after acquiring an additional 84,898 shares during the period. State Street Corp lifted its holdings in Knight-Swift Transportation by 1.6% in the fourth quarter. State Street Corp now owns 6,148,004 shares of the transportation company's stock valued at $374,659,000 after acquiring an additional 95,857 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Knight-Swift Transportation by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,850,070 shares of the transportation company's stock valued at $194,290,000 after acquiring an additional 87,876 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Knight-Swift Transportation by 2.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,326,761 shares of the transportation company's stock valued at $202,733,000 after acquiring an additional 85,738 shares during the period. 89.64% of the stock is owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
A number of research firms have commented on KNX. Susquehanna Bancshares raised their target price on Knight-Swift Transportation from $64.00 to $65.00 and gave the company a "positive" rating in a report on Thursday, July 21st. Barclays cut their price target on Knight-Swift Transportation from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, July 12th. Wolfe Research raised Knight-Swift Transportation from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, July 12th. Evercore ISI raised Knight-Swift Transportation from an "in-line" rating to an "outperform" rating and set a $35.00 price target for the company in a research note on Tuesday, July 12th. Finally, Credit Suisse Group cut their price target on Knight-Swift Transportation to $66.00 in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.94.
Insider Transactions at Knight-Swift Transportation
In other news, EVP James E. Jr. Updike sold 2,400 shares of the business's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.18, for a total transaction of $132,432.00. Following the completion of the sale, the executive vice president now owns 19,944 shares in the company, valued at approximately $1,100,509.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company's stock.
Knight-Swift Transportation Stock Down 0.3 %
KNX opened at $49.75 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 0.62 and a beta of 1.26. The business has a 50-day moving average of $51.79 and a two-hundred day moving average of $50.07. Knight-Swift Transportation Holdings Inc. has a 12 month low of $42.50 and a 12 month high of $62.29.
Knight-Swift Transportation (NYSE:KNX – Get Rating) last issued its earnings results on Wednesday, July 20th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.06. Knight-Swift Transportation had a return on equity of 14.44% and a net margin of 12.26%. The business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company's revenue for the quarter was up 49.1% on a year-over-year basis. On average, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 5.39 earnings per share for the current year.
Knight-Swift Transportation Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Monday, September 5th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, September 1st. Knight-Swift Transportation's payout ratio is currently 8.97%.
Knight-Swift Transportation Profile
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Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.
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