Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 28.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,197 shares of the transportation company’s stock after acquiring an additional 490 shares during the quarter. Allworth Financial LP’s holdings in Knight-Swift Transportation were worth $121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new stake in Knight-Swift Transportation during the 4th quarter worth $1,796,000. Rhumbline Advisers grew its position in Knight-Swift Transportation by 2.0% during the 4th quarter. Rhumbline Advisers now owns 471,677 shares of the transportation company’s stock worth $25,018,000 after purchasing an additional 9,396 shares during the last quarter. Stanley Laman Group Ltd. purchased a new position in Knight-Swift Transportation during the 4th quarter worth $3,021,000. Legato Capital Management LLC grew its position in Knight-Swift Transportation by 149.3% during the 4th quarter. Legato Capital Management LLC now owns 13,385 shares of the transportation company’s stock worth $710,000 after purchasing an additional 8,015 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Knight-Swift Transportation by 3.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company’s stock worth $221,541,000 after purchasing an additional 125,827 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Down 2.6 %

KNX stock opened at $52.02 on Monday. The company has a market cap of $8.42 billion, a P/E ratio of 71.25 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $61.51. The company’s 50-day moving average price is $54.60 and its 200 day moving average price is $54.09. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. On average, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s payout ratio is presently 98.63%.

Analyst Upgrades and Downgrades

KNX has been the topic of several research reports. Bank of America raised their price objective on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Raymond James raised their price objective on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group raised their price objective on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $48.00 to $67.00 in a research report on Friday, January 3rd. Finally, TD Cowen lifted their target price on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

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.