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

Allspring Global Investments Holdings LLC lessened its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Adams Diversified Equity Fund Inc. purchased a new position in Knight-Swift Transportation during the first quarter worth about $10,498,000. Lecap Asset Management Ltd. purchased a new position in shares of Knight-Swift Transportation during the 1st quarter worth approximately $3,969,000. Econ Financial Services Corp acquired a new stake in Knight-Swift Transportation in the 1st quarter valued at approximately $1,707,000. Norris Perne & French LLP MI raised its position in Knight-Swift Transportation by 32.2% in the first quarter. Norris Perne & French LLP MI now owns 474,016 shares of the transportation company's stock valued at $20,615,000 after purchasing an additional 115,588 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Knight-Swift Transportation by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 18,968 shares of the transportation company's stock valued at $824,000 after purchasing an additional 510 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KNX. The Goldman Sachs Group upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and increased their target price for the stock from $45.00 to $65.00 in a report on Monday, June 2nd. Evercore ISI reduced their price target on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Stifel Nicolaus reduced their price objective on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Finally, Raymond James Financial decreased their price objective 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. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.25.

Knight-Swift Transportation Trading Up 3.9%

NYSE KNX traded up $1.73 during mid-day trading on Tuesday, hitting $45.96. The company's stock had a trading volume of 4,904,844 shares, compared to its average volume of 2,877,362. The firm has a market capitalization of $7.45 billion, a P/E ratio of 48.89, a price-to-earnings-growth ratio of 0.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.88. Knight-Swift Transportation Holdings Inc. has a 52-week low of $36.69 and a 52-week high of $61.51. The stock's fifty day simple moving average is $43.14 and its two-hundred day simple moving average is $47.49.

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, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.79% and a net margin of 2.04%. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. Research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.57%. 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.