Great Lakes Advisors LLC cut its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 49.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,911 shares of the transportation company’s stock after selling 114,517 shares during the period. Great Lakes Advisors LLC owned 0.07% of Knight-Swift Transportation worth $6,496,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of KNX. Allspring Global Investments Holdings LLC boosted its holdings in Knight-Swift Transportation by 6,599.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,545,232 shares of the transportation company’s stock worth $141,413,000 after buying an additional 2,507,241 shares during the period. Norges Bank bought a new position in Knight-Swift Transportation in the 4th quarter worth approximately $90,026,000. Wellington Management Group LLP boosted its holdings in Knight-Swift Transportation by 13.4% in the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock worth $414,739,000 after buying an additional 972,139 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Knight-Swift Transportation by 94.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock worth $85,249,000 after buying an additional 892,933 shares during the period. Finally, TimesSquare Capital Management LLC bought a new position in Knight-Swift Transportation in the 1st quarter valued at $36,951,000. 87.88% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have commented on KNX. Raymond James raised their price target on shares of Knight-Swift Transportation from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, July 24th. JPMorgan Chase & Co. raised shares of Knight-Swift Transportation from an “underweight” rating to a “neutral” rating and raised their price target for the company from $54.00 to $57.00 in a report on Friday, October 20th. Morgan Stanley raised their price target on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, October 20th. Susquehanna cut their price target on shares of Knight-Swift Transportation from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 3rd. Finally, StockNews.com began coverage on shares of Knight-Swift Transportation in a report on Thursday, October 5th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.19.
Knight-Swift Transportation Price Performance
KNX stock opened at $51.48 on Monday. The firm’s 50-day moving average price is $50.18 and its two-hundred day moving average price is $54.09. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.73 and a 12-month high of $64.35. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.65 and a beta of 1.19. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.26.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Knight-Swift Transportation had a net margin of 5.41% and a return on equity of 6.03%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.09 earnings per share for the current year.
Knight-Swift Transportation Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, December 7th. Knight-Swift Transportation’s payout ratio is 24.14%.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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