Arizona State Retirement System boosted its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,886 shares of the transportation company’s stock after purchasing an additional 956 shares during the period. Arizona State Retirement System’s holdings in Knight-Swift Transportation were worth $2,214,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of KNX. Yousif Capital Management LLC purchased a new position in shares of Knight-Swift Transportation in the 4th quarter valued at $5,459,000. DekaBank Deutsche Girozentrale raised its stake in shares of Knight-Swift Transportation by 2.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 470,275 shares of the transportation company’s stock valued at $28,808,000 after acquiring an additional 12,232 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Knight-Swift Transportation by 232.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,595 shares of the transportation company’s stock valued at $5,216,000 after acquiring an additional 59,832 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Knight-Swift Transportation in the 4th quarter valued at $10,011,000. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Knight-Swift Transportation by 2.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 117,257 shares of the transportation company’s stock valued at $7,146,000 after acquiring an additional 2,944 shares during the period. Hedge funds and other institutional investors own 86.20% of the company’s stock.
Knight-Swift Transportation Trading Up 3.1 %
NYSE KNX opened at $54.95 on Monday. Knight-Swift Transportation Holdings Inc. has a one year low of $42.50 and a one year high of $62.29. The company has a 50-day simple moving average of $48.04 and a 200-day simple moving average of $50.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.26 and a current ratio of 1.33. The firm has a market capitalization of $8.99 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.63 and a beta of 1.19.
Knight-Swift Transportation (NYSE:KNX – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The transportation company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.35 by $0.06. Knight-Swift Transportation had a net margin of 12.26% and a return on equity of 14.44%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $0.98 EPS. The company’s quarterly revenue was up 49.1% on a year-over-year basis. On average, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 5.39 earnings per share for the current year.
Knight-Swift Transportation Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Monday, September 5th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, September 1st. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 8.97%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on KNX. JPMorgan Chase & Co. cut their target price on shares of Knight-Swift Transportation from $54.00 to $52.00 and set an “underweight” rating on the stock in a research note on Friday, April 8th. Wells Fargo & Company cut their target price on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, July 15th. Raymond James lifted their price target on shares of Knight-Swift Transportation from $50.00 to $53.00 in a research note on Monday, April 25th. Evercore ISI raised shares of Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Tuesday, July 12th. Finally, Susquehanna Bancshares lifted their price target on shares of Knight-Swift Transportation from $64.00 to $65.00 and gave the stock a “positive” rating in a research note on Thursday, July 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.94.
About Knight-Swift Transportation
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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