Handelsinvest Investeringsforvaltning Reduces Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Handelsinvest Investeringsforvaltning lessened its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 34.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,273 shares of the transportation company’s stock after selling 2,218 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Knight-Swift Transportation were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KNX. Rise Advisors LLC purchased a new position in shares of Knight-Swift Transportation in the 1st quarter valued at approximately $25,000. GAMMA Investing LLC grew its stake in shares of Knight-Swift Transportation by 67.5% in the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 253 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Knight-Swift Transportation by 136.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 667 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 385 shares during the last quarter. Blue Trust Inc. increased its position in Knight-Swift Transportation by 80.3% during the 4th quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock worth $42,000 after purchasing an additional 326 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Knight-Swift Transportation by 61.7% during the 4th quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock worth $43,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KNX. Stifel Nicolaus downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and cut their target price for the stock from $53.00 to $47.00 in a research note on Friday, April 26th. Bank of America cut their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Robert W. Baird cut their target price on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Loop Capital downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and dropped their price objective for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. Finally, Evercore ISI dropped their price objective on Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.54.

Knight-Swift Transportation Stock Up 0.8 %

Shares of NYSE:KNX traded up $0.42 during trading on Wednesday, hitting $50.19. The company’s stock had a trading volume of 48,389 shares, compared to its average volume of 2,104,836. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio 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 stock’s 50-day moving average price is $48.09 and its two-hundred day moving average price is $53.06. The company has a market capitalization of $8.11 billion, a PE ratio of 74.30, a PEG ratio of 1.26 and a beta of 0.94.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the company earned $0.73 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.26 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, June 10th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 95.52%.

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.