Knight-Swift Transportation Holdings Inc. $KNX Shares Sold by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans cut its Knight-Swift Transportation stake by 96.1% in the fourth quarter, selling 996,617 shares and leaving it with 40,249 shares valued at about $2.1 million.
• CFO Joshua Smith sold 5,770 shares on February 26 for roughly $351,451, reducing his ownership by 38.5%.
• Knight-Swift reported Q1 EPS of $0.09, missing estimates by $0.20, while revenue of $1.85 billion matched expectations; analysts still maintain a Moderate Buy rating with an average price target of $66.71.

Thrivent Financial for Lutherans reduced its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 96.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,249 shares of the transportation company's stock after selling 996,617 shares during the period. Thrivent Financial for Lutherans' holdings in Knight-Swift Transportation were worth $2,104,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KNX. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Knight-Swift Transportation in the fourth quarter worth approximately $225,000. Long Road Investment Counsel LLC boosted its stake in shares of Knight-Swift Transportation by 24.0% in the fourth quarter. Long Road Investment Counsel LLC now owns 9,555 shares of the transportation company's stock worth $500,000 after acquiring an additional 1,850 shares during the last quarter. Strs Ohio boosted its stake in shares of Knight-Swift Transportation by 24.7% in the fourth quarter. Strs Ohio now owns 448,471 shares of the transportation company's stock worth $23,446,000 after acquiring an additional 88,707 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Knight-Swift Transportation by 44.4% in the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company's stock worth $45,000 after acquiring an additional 267 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Knight-Swift Transportation by 50.4% in the fourth quarter. M&T Bank Corp now owns 13,936 shares of the transportation company's stock worth $728,000 after acquiring an additional 4,670 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Joshua Smith sold 5,770 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.91, for a total transaction of $351,450.70. Following the transaction, the chief financial officer owned 9,214 shares in the company, valued at approximately $561,224.74. This trade represents a 38.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.90% of the company's stock.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $72.95 on Wednesday. Knight-Swift Transportation Holdings Inc. has a one year low of $38.63 and a one year high of $73.36. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 347.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The business's 50 day moving average price is $61.93 and its 200 day moving average price is $56.73.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.20). Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The business's quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.12 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 380.95%.

Analysts Set New Price Targets

KNX has been the topic of a number of research analyst reports. Benchmark lifted their price target on Knight-Swift Transportation from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Susquehanna lifted their price target on Knight-Swift Transportation from $60.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company lifted their price target on Knight-Swift Transportation from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. TD Cowen lifted their price target on Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings raised Knight-Swift Transportation from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Knight-Swift Transportation currently has a consensus rating of "Moderate Buy" and an average price target of $66.71.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc NYSE: KNX is one of North America's largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company's core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

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