Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Stake Boosted by HB Wealth Management LLC

HB Wealth Management LLC grew its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNXFree Report) by 19.2% during the 4th quarter, HoldingsChannel reports. The fund owned 5,407 shares of the transportation company’s stock after acquiring an additional 871 shares during the period. HB Wealth Management LLC’s holdings in Knight-Swift Transportation were worth $287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KNX. Franklin Resources Inc. purchased a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at $70,185,000. Millennium Management LLC grew its holdings in shares of Knight-Swift Transportation by 309.7% during the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock valued at $53,331,000 after acquiring an additional 807,572 shares in the last quarter. Brandes Investment Partners LP purchased a new position in shares of Knight-Swift Transportation during the 2nd quarter valued at $30,251,000. Fortitude Family Office LLC purchased a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at $26,775,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Knight-Swift Transportation by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock valued at $219,870,000 after purchasing an additional 467,647 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KNX. Barclays lifted their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Morgan Stanley reduced their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Citigroup lowered shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.38.

Get Our Latest Analysis on KNX

Knight-Swift Transportation Stock Down 0.6 %

Shares of KNX opened at $57.22 on Friday. The company has a 50-day simple moving average of $55.27 and a 200-day simple moving average of $53.38. The firm has a market capitalization of $9.26 billion, a P/E ratio of 78.38, a P/E/G ratio of 1.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $61.51.

Knight-Swift Transportation (NYSE:KNXGet Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, beating 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, equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.11 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. Knight-Swift Transportation’s payout ratio is currently 87.67%.

Insider Activity at Knight-Swift Transportation

In other news, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Knight-Swift Transportation Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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