Lazard Asset Management LLC trimmed its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 81.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,705 shares of the transportation company's stock after selling 11,925 shares during the quarter. Lazard Asset Management LLC's holdings in Knight-Swift Transportation were worth $143,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in KNX. Victory Capital Management Inc. raised its stake in shares of Knight-Swift Transportation by 6.8% in the 4th quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company's stock worth $423,265,000 after buying an additional 506,491 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Knight-Swift Transportation by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company's stock valued at $370,819,000 after buying an additional 505,543 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Knight-Swift Transportation by 3.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company's stock valued at $221,541,000 after buying an additional 125,827 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Knight-Swift Transportation by 1.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,556,405 shares of the transportation company's stock valued at $188,632,000 after buying an additional 63,241 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Knight-Swift Transportation by 36.8% during the fourth quarter. Franklin Resources Inc. now owns 1,885,438 shares of the transportation company's stock valued at $100,004,000 after buying an additional 507,370 shares in the last quarter. 88.77% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Knight-Swift Transportation 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 purchased at an average cost of $45.37 per share, with a total value of $226,850.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $226,850. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company's stock.
Knight-Swift Transportation Trading Up 2.3%
Shares of NYSE:KNX traded up $0.98 during midday trading on Tuesday, reaching $43.80. The company had a trading volume of 1,755,106 shares, compared to its average volume of 2,327,966. The company has a fifty day simple moving average of $41.99 and a two-hundred day simple moving average of $49.78. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 60.00 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. Knight-Swift Transportation Holdings Inc. has a 1-year low of $36.69 and a 1-year high of $61.51.
Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.
Knight-Swift Transportation Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.64%. The ex-dividend date is Monday, June 9th. Knight-Swift Transportation's dividend payout ratio is currently 76.60%.
Analyst Ratings Changes
Several brokerages recently weighed in on KNX. 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 note on Thursday, April 24th. Citigroup raised Knight-Swift Transportation from a "neutral" rating to a "buy" rating and decreased their target price for the company from $53.00 to $48.00 in a research note on Tuesday, April 8th. Stifel Nicolaus decreased their target price 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. TD Cowen decreased their target price on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Raymond James 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 note on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of "Moderate Buy" and an average price target of $50.73.
Check Out Our Latest Research Report on KNX
Knight-Swift Transportation Profile
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Free Report)
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.
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