Adams Diversified Equity Fund Inc. Makes New Investment in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Adams Diversified Equity Fund Inc. acquired a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 241,400 shares of the transportation company's stock, valued at approximately $10,498,000. Adams Diversified Equity Fund Inc. owned about 0.15% of Knight-Swift Transportation as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lecap Asset Management Ltd. purchased a new position in shares of Knight-Swift Transportation in the 1st quarter worth approximately $3,969,000. Econ Financial Services Corp purchased a new position in shares of Knight-Swift Transportation in the 1st quarter worth approximately $1,707,000. Norris Perne & French LLP MI grew its position in shares of Knight-Swift Transportation by 32.2% in the 1st quarter. Norris Perne & French LLP MI now owns 474,016 shares of the transportation company's stock worth $20,615,000 after buying an additional 115,588 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Knight-Swift Transportation by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 18,968 shares of the transportation company's stock worth $824,000 after buying an additional 510 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Knight-Swift Transportation by 668.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,743 shares of the transportation company's stock worth $1,511,000 after buying an additional 30,219 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KNX shares. Bank of America lifted their price objective on shares of Knight-Swift Transportation from $43.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. TD Cowen dropped their target price on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Raymond James Financial dropped their target price on shares of Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of Knight-Swift Transportation from $49.00 to $46.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company boosted their target price on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.13.

Knight-Swift Transportation Stock Performance

NYSE KNX traded up $0.90 on Friday, hitting $45.12. 2,536,222 shares of the company's stock traded hands, compared to its average volume of 2,383,303. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation Holdings Inc. has a 1-year low of $36.69 and a 1-year high of $61.51. The firm's 50-day moving average price is $43.02 and its two-hundred day moving average price is $47.69. The firm has a market capitalization of $7.31 billion, a PE ratio of 48.00, a P/E/G ratio of 0.65 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 2.04% and a return on equity of 2.79%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the firm posted $0.12 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, June 9th. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 76.60%.

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.