Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 20.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,326,636 shares of the transportation company's stock after selling 874,640 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.05% of Knight-Swift Transportation worth $145,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Knight-Swift Transportation by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,175,335 shares of the transportation company's stock valued at $62,340,000 after buying an additional 28,387 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Knight-Swift Transportation by 533.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 33,614 shares of the transportation company's stock valued at $1,462,000 after buying an additional 28,311 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Knight-Swift Transportation in the 4th quarter valued at about $240,000. Proficio Capital Partners LLC purchased a new position in Knight-Swift Transportation in the 4th quarter valued at about $749,000. Finally, State of Alaska Department of Revenue boosted its position in 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 valued at $824,000 after buying an additional 510 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on KNX. Citigroup increased their price target on shares of Knight-Swift Transportation from $48.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Susquehanna increased their price target on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the stock a "positive" rating in a research report on Tuesday, June 24th. TD Securities reduced their price target 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. TD Cowen reduced their price target 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. Finally, Benchmark reaffirmed a "buy" rating and set a $63.00 price target on shares of Knight-Swift Transportation in a research report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.13.

Knight-Swift Transportation Stock Performance

KNX traded up $0.90 on Friday, hitting $45.12. 2,536,222 shares of the company's stock were exchanged, compared to its average volume of 2,379,638. The firm has a market cap of $7.31 billion, a PE ratio of 48.00, a P/E/G ratio of 0.67 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a twelve month low of $36.69 and a twelve month high of $61.51. The stock has a fifty day moving average of $43.02 and a two-hundred day moving average of $47.63. 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 (NYSE:KNX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. Knight-Swift Transportation's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 9th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.60%. Knight-Swift Transportation's payout ratio is currently 76.60%.

Knight-Swift Transportation 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.