PNC Financial Services Group Inc. Buys 29,824 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

PNC Financial Services Group Inc. increased its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 57.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,799 shares of the transportation company’s stock after acquiring an additional 29,824 shares during the period. PNC Financial Services Group Inc. owned about 0.05% of Knight-Swift Transportation worth $4,339,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Knight-Swift Transportation by 6.8% during the 4th quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company’s stock worth $423,265,000 after purchasing an additional 506,491 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Knight-Swift Transportation by 3.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company’s stock worth $221,541,000 after acquiring an additional 125,827 shares in the last quarter. Geode Capital Management LLC raised its position in Knight-Swift Transportation by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock worth $147,529,000 after acquiring an additional 46,436 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Knight-Swift Transportation by 34.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock valued at $76,224,000 after purchasing an additional 359,566 shares during the period. Finally, Franklin Resources Inc. bought a new stake in shares of Knight-Swift Transportation in the 3rd quarter valued at about $70,185,000. Institutional investors own 88.77% of the company’s stock.

Analyst Ratings Changes

KNX has been the topic of a number of research analyst reports. Benchmark began coverage on shares of Knight-Swift Transportation in a report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 target price on the stock. StockNews.com upgraded Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Raymond James increased their price target on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Citigroup upgraded Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price target on the stock in a research note on Monday. Finally, TD Cowen increased their price objective on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Eight 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.41.

Knight-Swift Transportation Stock Performance

Knight-Swift Transportation stock opened at $45.63 on Friday. Knight-Swift Transportation Holdings Inc. has a 12-month low of $44.95 and a 12-month high of $61.51. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $53.27 and its two-hundred day moving average price is $53.64. The stock has a market cap of $7.39 billion, a PE ratio of 62.51 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, March 7th. 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%.

Knight-Swift Transportation Profile

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.