Knight-Swift Transportation Holdings Inc. $KNX Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 14.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 258,157 shares of the transportation company’s stock after selling 42,457 shares during the period. Legal & General Group Plc’s holdings in Knight-Swift Transportation were worth $13,496,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KNX. Balyasny Asset Management L.P. boosted its stake in shares of Knight-Swift Transportation by 269.7% in the third quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock worth $88,164,000 after buying an additional 1,627,791 shares during the last quarter. Junto Capital Management LP raised its position in Knight-Swift Transportation by 252.4% during the third quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock valued at $89,377,000 after acquiring an additional 1,620,224 shares in the last quarter. Pzena Investment Management LLC purchased a new position in Knight-Swift Transportation during the fourth quarter valued at approximately $66,151,000. Freestone Grove Partners LP lifted its holdings in Knight-Swift Transportation by 100.3% in the third quarter. Freestone Grove Partners LP now owns 1,586,753 shares of the transportation company’s stock valued at $62,693,000 after acquiring an additional 794,505 shares during the period. Finally, UBS Group AG lifted its holdings in Knight-Swift Transportation by 44.3% in the fourth quarter. UBS Group AG now owns 2,430,896 shares of the transportation company’s stock valued at $127,087,000 after acquiring an additional 745,787 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Trading Down 0.4%

Shares of NYSE:KNX opened at $77.63 on Wednesday. Knight-Swift Transportation Holdings Inc. has a 1 year low of $38.63 and a 1 year high of $78.84. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 369.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50 day moving average price is $63.75 and its 200-day moving average price is $57.59.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.Knight-Swift Transportation’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. On average, equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.14 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Monday, June 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Knight-Swift Transportation’s payout ratio is currently 380.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Friday, March 13th. UBS Group increased their price target on shares of Knight-Swift Transportation from $79.00 to $94.00 and gave the stock a “buy” rating in a report on Monday. Barclays raised their price target on shares of Knight-Swift Transportation from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Stifel Nicolaus lifted their price objective on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Benchmark upped their price objective on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus target price of $68.88.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.