Concentric Capital Strategies LP Takes $2.78 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Concentric Capital Strategies LP acquired a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 52,408 shares of the transportation company's stock, valued at approximately $2,780,000.

Several other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Knight-Swift Transportation by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company's stock valued at $423,265,000 after buying an additional 506,491 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Knight-Swift Transportation by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company's stock valued at $370,819,000 after acquiring an additional 505,543 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Knight-Swift Transportation by 3.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company's stock valued at $221,541,000 after acquiring an additional 125,827 shares during the period. Franklin Resources Inc. increased its stake in shares of Knight-Swift Transportation by 36.8% in the 4th quarter. Franklin Resources Inc. now owns 1,885,438 shares of the transportation company's stock valued at $100,004,000 after purchasing an additional 507,370 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Knight-Swift Transportation by 28.1% in the 4th quarter. Northern Trust Corp now owns 1,470,689 shares of the transportation company's stock worth $78,005,000 after purchasing an additional 322,541 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Douglas L. Col purchased 5,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $226,850. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.00% of the company's stock.

Knight-Swift Transportation Trading Down 1.7 %

Shares of KNX traded down $0.74 during mid-day trading on Friday, reaching $42.43. The stock had a trading volume of 2,931,917 shares, compared to its average volume of 2,311,724. 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 business's fifty day moving average is $42.43 and its 200 day moving average is $50.54. Knight-Swift Transportation Holdings Inc. has a 52-week low of $36.69 and a 52-week high of $61.51. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 58.12 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly 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 net margin of 1.59% and a return on equity of 2.43%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm earned $0.12 EPS. The business's revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Monday, June 9th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, June 9th. Knight-Swift Transportation's dividend payout ratio is presently 76.60%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America cut Knight-Swift Transportation from a "buy" rating to a "neutral" rating and cut their price objective for the company from $66.00 to $46.00 in a research report on Tuesday, April 1st. TD Cowen reduced their price objective on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Susquehanna dropped their target price on shares of Knight-Swift Transportation from $54.00 to $45.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. TD Securities reduced their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, UBS Group lowered their price objective on Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Knight-Swift Transportation currently has an average rating of "Moderate Buy" and a consensus price target of $50.60.

About Knight-Swift Transportation

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.