Econ Financial Services Corp Takes $1.71 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Econ Financial Services Corp bought a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,255 shares of the transportation company's stock, valued at approximately $1,707,000.

Other large investors have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in shares of Knight-Swift Transportation by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company's stock worth $36,000 after acquiring an additional 322 shares during the last quarter. UMB Bank n.a. raised its holdings in Knight-Swift Transportation by 40.0% in the 1st quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock worth $49,000 after purchasing an additional 324 shares during the period. Quarry LP raised its holdings in Knight-Swift Transportation by 41.6% in the 4th quarter. Quarry LP now owns 1,701 shares of the transportation company's stock worth $90,000 after purchasing an additional 500 shares during the period. Generali Asset Management SPA SGR purchased a new position in Knight-Swift Transportation during the fourth quarter valued at $99,000. Finally, Quadrant Capital Group LLC grew its holdings in Knight-Swift Transportation by 21.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company's stock valued at $113,000 after purchasing an additional 375 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group lowered their price target on shares of Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup lifted their target price on shares of Knight-Swift Transportation from $48.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, May 30th. TD Securities dropped their target price on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Raymond James Financial decreased their price target on Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating on the stock in a report on Friday, April 11th. Finally, Barclays dropped their price objective on Knight-Swift Transportation from $62.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.13.

Knight-Swift Transportation Trading Up 0.6%

Shares of KNX stock traded up $0.25 on Thursday, reaching $44.27. 2,988,133 shares of the company's stock were exchanged, compared to its average volume of 2,378,610. The company's fifty day simple moving average is $42.81 and its 200 day simple moving average is $47.85. The stock has a market capitalization of $7.17 billion, a PE ratio of 47.09, a P/E/G ratio of 0.65 and a beta of 1.18. 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 52 week low of $36.69 and a 52 week high of $61.51.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. The firm had revenue of $1.82 billion during 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%. The business's revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Monday, June 9th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Monday, June 9th. Knight-Swift Transportation's dividend payout ratio is presently 76.60%.

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.