Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by Harvey Investment Co. LLC

Harvey Investment Co. LLC reduced its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 8.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 284,857 shares of the transportation company’s stock after selling 25,110 shares during the quarter. Knight-Swift Transportation makes up 1.4% of Harvey Investment Co. LLC’s portfolio, making the stock its 25th biggest holding. Harvey Investment Co. LLC’s holdings in Knight-Swift Transportation were worth $12,388,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its position in Knight-Swift Transportation by 88.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock worth $36,000 after purchasing an additional 322 shares during the last quarter. UMB Bank n.a. increased its position in Knight-Swift Transportation by 40.0% during the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company’s stock worth $49,000 after purchasing an additional 324 shares during the last quarter. Arcadia Investment Management Corp MI increased its position in Knight-Swift Transportation by 167.2% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,336 shares of the transportation company’s stock worth $71,000 after purchasing an additional 836 shares during the last quarter. Quarry LP increased its position in Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company’s stock worth $90,000 after purchasing an additional 500 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in Knight-Swift Transportation during the fourth quarter worth about $99,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Price Performance

Shares of KNX opened at $42.62 on Friday. The firm has a 50-day simple moving average of $42.53 and a two-hundred day simple moving average of $48.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.88. Knight-Swift Transportation Holdings Inc. has a 1-year low of $36.69 and a 1-year high of $61.51. The stock has a market cap of $6.91 billion, a PE ratio of 45.35, a P/E/G ratio of 0.63 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Monday, June 9th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, June 9th. Knight-Swift Transportation’s payout ratio is 76.60%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KNX. Stifel Nicolaus cut their price objective on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Benchmark restated a “buy” rating and set a $63.00 price objective on shares of Knight-Swift Transportation in a research report on Monday, April 14th. Barclays dropped their price target on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. UBS Group dropped their price target on shares of Knight-Swift Transportation from $63.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.00 to $65.00 in a research report on Monday, June 2nd. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.67.

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 transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.