Rhumbline Advisers Has $19.04 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Rhumbline Advisers lowered its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 437,895 shares of the transportation company's stock after selling 33,782 shares during the period. Rhumbline Advisers owned 0.27% of Knight-Swift Transportation worth $19,044,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Interval Partners LP grew its position in Knight-Swift Transportation by 320.7% during the fourth quarter. Interval Partners LP now owns 1,754,822 shares of the transportation company's stock valued at $93,076,000 after buying an additional 1,337,727 shares during the period. Norges Bank acquired a new position in Knight-Swift Transportation during the fourth quarter worth about $65,839,000. Junto Capital Management LP purchased a new position in Knight-Swift Transportation during the fourth quarter worth about $34,355,000. Ceredex Value Advisors LLC raised its stake in shares of Knight-Swift Transportation by 59.5% in the 4th quarter. Ceredex Value Advisors LLC now owns 1,435,562 shares of the transportation company's stock valued at $76,142,000 after acquiring an additional 535,518 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Knight-Swift Transportation by 36.8% in the 4th quarter. Franklin Resources Inc. now owns 1,885,438 shares of the transportation company's stock valued at $100,004,000 after acquiring an additional 507,370 shares during the period. Institutional investors and hedge funds own 88.77% of the company's stock.

Knight-Swift Transportation Trading Down 0.5%

NYSE KNX traded down $0.24 during mid-day trading on Monday, hitting $44.37. The company's stock had a trading volume of 2,324,678 shares, compared to its average volume of 2,338,411. The firm has a market capitalization of $7.19 billion, a P/E ratio of 60.78 and a beta of 1.18. The stock's fifty day simple moving average is $41.99 and its two-hundred day simple moving average is $49.01. 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 debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The business 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 1.59% and a return on equity of 2.43%. The business's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Monday, June 9th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, June 9th. This represents a $0.72 annualized dividend and a yield of 1.62%. Knight-Swift Transportation's payout ratio is 76.60%.

Insider Activity

In related news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company's stock, valued at $226,850. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

KNX has been the subject of a number of research reports. The Goldman Sachs Group upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $45.00 to $65.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. cut their price objective on shares of Knight-Swift Transportation from $49.00 to $46.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Susquehanna lowered their price target on shares of Knight-Swift Transportation from $54.00 to $45.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. UBS Group lowered their price objective on shares of Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup raised their price target on shares of Knight-Swift Transportation from $48.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of "Moderate Buy" and an average target price of $52.67.

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.