Allspring Global Investments Holdings LLC Has $245.31 Million Stock Position in Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Allspring Global Investments trimmed its Knight-Swift Transportation stake by 8.9% in the first quarter, but still held 4.26 million shares worth about $245.3 million, or 2.62% of the company.
• Institutional ownership in KNX remains heavy, with hedge funds and large asset managers owning 88.77% of the stock. Several firms, including Wellington Management and Invesco, increased their positions significantly in recent quarters.
• Knight-Swift recently reported Q1 earnings of $0.09 per share, missing estimates, while revenue met expectations at $1.85 billion. Analysts remain mostly bullish, with a consensus Buy rating and average price target of $80.44.

Allspring Global Investments Holdings LLC reduced its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,260,269 shares of the transportation company's stock after selling 416,153 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.62% of Knight-Swift Transportation worth $245,306,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KNX. Wellington Management Group LLP grew its position in Knight-Swift Transportation by 23.6% in the 4th quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company's stock worth $675,380,000 after purchasing an additional 2,468,293 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Knight-Swift Transportation by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,397,338 shares of the transportation company's stock valued at $439,016,000 after acquiring an additional 129,651 shares during the period. Ensign Peak Advisors Inc increased its stake in Knight-Swift Transportation by 50.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 2,939,212 shares of the transportation company's stock valued at $153,662,000 after acquiring an additional 984,422 shares during the period. UBS Group AG raised its holdings in Knight-Swift Transportation by 44.3% in the 4th quarter. UBS Group AG now owns 2,430,896 shares of the transportation company's stock valued at $127,087,000 after acquiring an additional 745,787 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Knight-Swift Transportation by 513.6% in the 4th quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company's stock valued at $126,354,000 after acquiring an additional 2,022,996 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Price Performance

Knight-Swift Transportation stock opened at $77.19 on Friday. The business's fifty day moving average is $74.27 and its two-hundred day moving average is $64.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $12.54 billion, a P/E ratio of 367.60, a P/E/G ratio of 0.82 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a 52 week low of $38.63 and a 52 week high of $82.86.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The business's quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.21 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, June 8th. Knight-Swift Transportation's dividend payout ratio is presently 380.95%.

Analysts Set New Price Targets

Several analysts have recently weighed in on KNX shares. Morgan Stanley lifted their price objective on Knight-Swift Transportation from $70.00 to $100.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Citizens Jmp started coverage on Knight-Swift Transportation in a research note on Wednesday. They issued a "market outperform" rating and a $90.00 target price for the company. Raymond James Financial lifted their price target on shares of Knight-Swift Transportation from $76.00 to $91.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price target on shares of Knight-Swift Transportation from $70.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, July 10th. Finally, TD Cowen increased their price objective on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $80.44.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc NYSE: KNX is one of North America's largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company's core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

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