Federated Hermes Inc. Reduces Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Key Points

• Federated Hermes Inc. reduced its holdings in Knight-Swift Transportation Holdings Inc. by 39.8% in the first quarter, now owning 262,445 shares valued at $11.41 million.
• Analysts have mixed outlooks on Knight-Swift, with Wells Fargo increasing its price target from $46.00 to $50.00, while TD Securities lowered their target from $55.00 to $49.00.
• Knight-Swift Transportation reported earnings of $0.35 per share for the last quarter, beating analyst expectations, although revenue fell slightly short at $1.86 billion.

Federated Hermes Inc. cut its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 39.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,445 shares of the transportation company's stock after selling 173,808 shares during the period. Federated Hermes Inc. owned approximately 0.16% of Knight-Swift Transportation worth $11,414,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in shares of Knight-Swift Transportation by 9,383.3% during the 1st quarter. Larson Financial Group LLC now owns 569 shares of the transportation company's stock worth $25,000 after acquiring an additional 563 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Knight-Swift Transportation by 40.0% during the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock worth $49,000 after buying an additional 324 shares in the last quarter. Quarry LP boosted its holdings in shares of Knight-Swift Transportation by 41.6% during the 4th quarter. Quarry LP now owns 1,701 shares of the transportation company's stock valued at $90,000 after acquiring an additional 500 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Knight-Swift Transportation by 21.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company's stock valued at $113,000 after buying an additional 375 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Knight-Swift Transportation in the first quarter valued at $118,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Up 0.4%

Shares of Knight-Swift Transportation stock traded up $0.15 during trading on Wednesday, hitting $42.53. The company's stock had a trading volume of 1,905,596 shares, compared to its average volume of 2,901,414. The company has a fifty day simple moving average of $44.62 and a two-hundred day simple moving average of $46.00. Knight-Swift Transportation Holdings Inc. has a 52 week low of $36.69 and a 52 week high of $61.51. The company has a market capitalization of $6.89 billion, a PE ratio of 41.70, a P/E/G ratio of 0.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.89 and a current ratio of 0.89.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. Knight-Swift Transportation had a net margin of 2.22% and a return on equity of 3.03%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. Equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KNX shares. Evercore ISI dropped their price target on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating on the stock in a research report on Thursday, April 24th. Bank of America increased their price target on Knight-Swift Transportation from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Baird R W upgraded Knight-Swift Transportation to a "strong-buy" rating in a report on Tuesday, July 1st. UBS Group reduced their price objective on shares of Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus cut their price target on 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. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.88.

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.