Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE grew its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 834,815 shares of the transportation company's stock after buying an additional 64,463 shares during the period. Bank of America Corp DE owned 0.52% of Knight-Swift Transportation worth $44,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KNX. Oak Thistle LLC raised its position in shares of Knight-Swift Transportation by 31.5% during the fourth quarter. Oak Thistle LLC now owns 14,831 shares of the transportation company's stock valued at $787,000 after buying an additional 3,555 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Knight-Swift Transportation by 19.2% in the fourth quarter. HB Wealth Management LLC now owns 5,407 shares of the transportation company's stock valued at $287,000 after purchasing an additional 871 shares in the last quarter. UMB Bank n.a. boosted its stake in Knight-Swift Transportation by 84.3% during the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company's stock worth $43,000 after buying an additional 370 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Knight-Swift Transportation by 20.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company's stock worth $67,000 after buying an additional 213 shares during the period. Finally, Dakota Wealth Management purchased a new stake in shares of Knight-Swift Transportation during the fourth quarter valued at $209,000. Institutional investors own 88.77% of the company's stock.

Knight-Swift Transportation Price Performance

NYSE KNX traded up $0.44 during mid-day trading on Tuesday, hitting $45.85. The stock had a trading volume of 217,781 shares, compared to its average volume of 2,319,405. The firm's 50 day moving average is $42.24 and its 200 day moving average is $50.23. Knight-Swift Transportation Holdings Inc. has a twelve month low of $36.69 and a twelve month high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 62.77 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $0.12 EPS. The company's revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Monday, June 9th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, June 9th. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 76.60%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KNX shares. Susquehanna decreased their price objective on Knight-Swift Transportation from $54.00 to $45.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Raymond James decreased their price objective on Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating for the company in a report on Friday, April 11th. Benchmark restated a "buy" rating and issued a $63.00 price objective on shares of Knight-Swift Transportation in a report on Monday, April 14th. TD Cowen reduced their target price on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Evercore ISI reduced their target price on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued 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 $50.73.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Douglas L. Col acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $45.37 per share, with a total value of $226,850.00. Following the transaction, the director now owns 5,000 shares of the company's stock, valued at $226,850. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company's stock.

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.