First American Bank Sells 16,381 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

First American Bank trimmed its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,948 shares of the transportation company's stock after selling 16,381 shares during the quarter. First American Bank's holdings in Knight-Swift Transportation were worth $2,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its holdings in Knight-Swift Transportation by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company's stock valued at $36,000 after acquiring an additional 322 shares during the period. UMB Bank n.a. raised its position in Knight-Swift Transportation by 40.0% during the 1st quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock valued at $49,000 after purchasing an additional 324 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in Knight-Swift Transportation by 167.2% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,336 shares of the transportation company's stock valued at $71,000 after purchasing an additional 836 shares during the last quarter. Quarry LP raised its position in 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 purchasing an additional 500 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in Knight-Swift Transportation during the 4th quarter valued at approximately $99,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Stock Down 0.5%

NYSE:KNX traded down $0.21 during trading hours on Friday, reaching $42.62. 3,565,381 shares of the company traded hands, compared to its average volume of 2,370,102. The business's 50-day moving average price is $42.53 and its two-hundred day moving average price is $47.98. The stock has a market capitalization of $6.91 billion, a P/E ratio of 45.35, a P/E/G ratio of 0.63 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a 1 year low of $36.69 and a 1 year high of $61.51. 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 (NYSE:KNX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a return on equity of 2.79% and a net margin of 2.04%. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter in the previous year, the business earned $0.12 earnings per share. The company's revenue was up 1.3% on a year-over-year basis. Analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, June 9th. Knight-Swift Transportation's payout ratio is currently 76.60%.

Wall Street Analysts Forecast Growth

KNX has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised Knight-Swift Transportation from a "neutral" rating to a "buy" rating and upped their price target for the company from $45.00 to $65.00 in a research report on Monday, June 2nd. Bank of America increased their target price on Knight-Swift Transportation from $43.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Evercore ISI decreased their target price on 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. Citigroup increased their target price on Knight-Swift Transportation from $48.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Raymond James Financial decreased their target price on Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating for the company in a research report on Friday, April 11th. Six investment 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.67.

Knight-Swift Transportation 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.