KLP Kapitalforvaltning AS Has $1.36 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in Knight-Swift Transportation Holdings Inc. by 29.8%, now holding 31,300 shares valued at $1,361,000.
• Several institutional investors have increased their stakes, with Larson Financial Group LLC boosting its position by an extraordinary 9,383.3%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Knight-Swift, with price targets ranging from $49.00 to $63.00.

KLP Kapitalforvaltning AS lessened its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 29.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,300 shares of the transportation company's stock after selling 13,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Knight-Swift Transportation were worth $1,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KNX. Larson Financial Group LLC raised 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 valued at $25,000 after acquiring an additional 563 shares in the last quarter. UMB Bank n.a. lifted its stake in Knight-Swift Transportation by 40.0% in the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock valued at $49,000 after buying an additional 324 shares during the last quarter. Quarry LP boosted its holdings in shares of Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company's stock valued at $90,000 after acquiring an additional 500 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of 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 acquiring an additional 375 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Knight-Swift Transportation by 38.6% during the first quarter. Allworth Financial LP now owns 3,044 shares of the transportation company's stock valued at $123,000 after acquiring an additional 847 shares during the period. Institutional investors and hedge funds own 88.77% of the company's stock.

Knight-Swift Transportation Stock Performance

KNX stock traded down $0.41 during midday trading on Monday, hitting $44.43. The stock had a trading volume of 3,855,777 shares, compared to its average volume of 2,788,941. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 43.56, a P/E/G ratio of 0.67 and a beta of 1.17. Knight-Swift Transportation Holdings Inc. has a 52 week low of $36.69 and a 52 week high of $61.51. The stock has a 50-day simple moving average of $44.78 and a 200 day simple moving average of $46.48. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30.

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

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 9th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.72 annualized dividend and a yield of 1.62%. Knight-Swift Transportation's dividend payout ratio is currently 70.59%.

Wall Street Analysts Forecast Growth

KNX has been the subject of several research analyst reports. TD Securities reduced their price objective 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. Barclays cut their price objective on Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Evercore ISI cut their price objective on Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on Knight-Swift Transportation from $45.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Stifel Nicolaus cut their price objective on Knight-Swift Transportation from $57.00 to $49.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.