Long Road Investment Counsel LLC acquired a new position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,375 shares of the transportation company’s stock, valued at approximately $274,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC raised its position in Knight-Swift Transportation by 30.7% in the 4th quarter. FMR LLC now owns 12,996,448 shares of the transportation company’s stock worth $325,820,000 after purchasing an additional 3,050,407 shares during the period. Wasatch Advisors Inc. raised its position in Knight-Swift Transportation by 20.5% in the 1st quarter. Wasatch Advisors Inc. now owns 5,933,741 shares of the transportation company’s stock worth $193,915,000 after purchasing an additional 1,009,719 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Knight-Swift Transportation by 25.7% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,961,925 shares of the transportation company’s stock worth $74,256,000 after purchasing an additional 606,350 shares during the period. JPMorgan Chase & Co. raised its position in Knight-Swift Transportation by 19.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,099 shares of the transportation company’s stock worth $100,547,000 after purchasing an additional 476,959 shares during the period. Finally, Frontier Capital Management Co. LLC raised its position in Knight-Swift Transportation by 8.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 2,903,755 shares of the transportation company’s stock worth $94,895,000 after purchasing an additional 222,781 shares during the period. 83.58% of the stock is owned by institutional investors.
A number of brokerages recently commented on KNX. ValuEngine upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. TheStreet upgraded shares of Knight-Swift Transportation from a “c+” rating to a “b-” rating in a research report on Wednesday, February 13th. Finally, Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.45.
Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Knight-Swift Transportation had a net margin of 8.28% and a return on equity of 8.69%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts predict that Knight-Swift Transportation Holdings Inc will post 2.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, May 31st. Knight-Swift Transportation’s payout ratio is 9.38%.
In other news, VP Shannon Breen sold 1,000 shares of Knight-Swift Transportation stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $34.82, for a total transaction of $34,820.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin P. Knight sold 145,960 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $33.29, for a total transaction of $4,859,008.40. The disclosure for this sale can be found here. Insiders sold 336,078 shares of company stock worth $11,170,951 in the last 90 days. Corporate insiders own 27.50% of the company’s stock.
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Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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