4,381 Shares in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Acquired by HB Wealth Management LLC

HB Wealth Management LLC acquired a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,381 shares of the transportation company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Knight-Swift Transportation by 15.7% in the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after purchasing an additional 2,137,296 shares in the last quarter. Vanguard Group Inc. boosted its position in Knight-Swift Transportation by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after acquiring an additional 57,000 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Knight-Swift Transportation by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,607,802 shares of the transportation company’s stock valued at $180,101,000 after acquiring an additional 235,858 shares in the last quarter. Norges Bank bought a new stake in Knight-Swift Transportation during the 4th quarter valued at $201,232,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Knight-Swift Transportation by 3.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,885,425 shares of the transportation company’s stock valued at $166,345,000 after acquiring an additional 89,035 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $52.38 on Friday. The stock has a 50-day simple moving average of $51.22 and a two-hundred day simple moving average of $51.31. The firm has a market capitalization of $8.48 billion, a P/E ratio of 78.18, a PEG ratio of 1.44 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. On average, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.12 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 95.52%.

Insider Activity

In other news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the sale, the director now directly owns 17,648 shares in the company, valued at approximately $892,459.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the sale, the director now directly owns 21,833 shares in the company, valued at approximately $1,164,135.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total value of $101,140.00. Following the completion of the sale, the director now owns 17,648 shares in the company, valued at $892,459.36. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock worth $4,367,869 in the last ninety days. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America increased their target price on Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Barclays increased their price objective on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Wells Fargo & Company initiated coverage on Knight-Swift Transportation in a report on Friday, June 7th. They set an “overweight” rating and a $56.00 price objective for the company. Evercore ISI decreased their price objective on Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Finally, UBS Group decreased their price objective on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.14.

Knight-Swift Transportation Company 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.