Legato Capital Management LLC Buys Shares of 39,660 Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Legato Capital Management opened a new position in Knight-Swift Transportation, buying 39,660 shares valued at about $2.07 million in the fourth quarter. Several other hedge funds also increased or initiated stakes, and institutional investors now own 88.77% of the stock.
• Wall Street sentiment has turned more bullish, with analysts at Benchmark, Citigroup, Wells Fargo, Barclays and Susquehanna raising targets or ratings. The stock currently carries a Moderate Buy consensus and an average price target of $66.71.
• Knight-Swift reported quarterly EPS of $0.09, missing the $0.29 estimate even as revenue matched expectations at $1.85 billion and rose 1.4% year over year. The company also declared a $0.20 quarterly dividend, while CFO Joshua Smith recently sold shares in an insider transaction.

Legato Capital Management LLC purchased a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 39,660 shares of the transportation company's stock, valued at approximately $2,073,000.

A number of other hedge funds also recently made changes to their positions in the stock. Pzena Investment Management LLC acquired a new stake in shares of Knight-Swift Transportation in the 4th quarter valued at approximately $66,151,000. PNC Financial Services Group Inc. boosted its stake in shares of Knight-Swift Transportation by 43.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,966 shares of the transportation company's stock valued at $1,201,000 after purchasing an additional 6,983 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Knight-Swift Transportation by 7.9% in the 4th quarter. Handelsbanken Fonder AB now owns 45,100 shares of the transportation company's stock valued at $2,358,000 after purchasing an additional 3,300 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Knight-Swift Transportation by 28.8% in the 4th quarter. HighTower Advisors LLC now owns 8,828 shares of the transportation company's stock valued at $462,000 after purchasing an additional 1,973 shares in the last quarter. Finally, North Dakota State Investment Board acquired a new stake in shares of Knight-Swift Transportation in the 4th quarter valued at approximately $292,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KNX. Benchmark raised their price target on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Citigroup upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and set a $64.00 price target on the stock in a research note on Friday, March 13th. Wells Fargo & Company raised their price target on shares of Knight-Swift Transportation from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. Barclays raised their price target on shares of Knight-Swift Transportation from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, March 4th. Finally, Susquehanna lifted their target price on shares of Knight-Swift Transportation from $60.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. 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.com, the company has an average rating of "Moderate Buy" and an average price target of $66.71.

Knight-Swift Transportation Stock Down 0.2%

Knight-Swift Transportation stock opened at $70.12 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. Knight-Swift Transportation Holdings Inc. has a 52-week low of $38.63 and a 52-week high of $71.63. The firm has a 50 day moving average price of $61.14 and a two-hundred day moving average price of $56.26. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 333.93 and a beta of 1.15.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.12 EPS for the current year.

Knight-Swift Transportation Announces Dividend

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

Insider Transactions at Knight-Swift Transportation

In other Knight-Swift Transportation news, CFO Joshua Smith sold 5,770 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $60.91, for a total transaction of $351,450.70. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.90% of the company's stock.

About Knight-Swift Transportation

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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