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Principal Financial Group Inc. Sells 107,517 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Knight-Swift Transportation logo with Transportation background

Principal Financial Group Inc. trimmed its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 11.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 825,842 shares of the transportation company's stock after selling 107,517 shares during the period. Principal Financial Group Inc. owned 0.51% of Knight-Swift Transportation worth $35,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Knight-Swift Transportation by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company's stock valued at $370,819,000 after purchasing an additional 505,543 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Knight-Swift Transportation by 1.8% in the 4th 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. Franklin Resources Inc. lifted its stake in shares of Knight-Swift Transportation by 36.8% during the 4th quarter. Franklin Resources Inc. now owns 1,885,438 shares of the transportation company's stock worth $100,004,000 after purchasing an additional 507,370 shares during the period. Interval Partners LP lifted its stake in shares of Knight-Swift Transportation by 320.7% during the 4th quarter. Interval Partners LP now owns 1,754,822 shares of the transportation company's stock worth $93,076,000 after purchasing an additional 1,337,727 shares during the period. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Knight-Swift Transportation by 11.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,705,095 shares of the transportation company's stock worth $90,438,000 after buying an additional 179,980 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNX has been the subject of several recent research reports. Robert W. Baird initiated coverage on Knight-Swift Transportation in a report on Tuesday, July 1st. They issued an "outperform" rating and a $55.00 price target for the company. The Goldman Sachs Group raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and raised their target price for the stock from $45.00 to $65.00 in a report on Monday, June 2nd. TD Securities dropped their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Baird R W upgraded shares of Knight-Swift Transportation to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Barclays decreased their price target on shares of Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $53.06.

Get Our Latest Stock Report on Knight-Swift Transportation

Knight-Swift Transportation Stock Performance

KNX traded down $0.88 during trading on Friday, hitting $47.34. The stock had a trading volume of 1,577,700 shares, compared to its average volume of 2,416,065. The firm has a market cap of $7.67 billion, a PE ratio of 50.36, a P/E/G ratio of 0.72 and a beta of 1.17. Knight-Swift Transportation Holdings Inc. has a 12 month low of $36.69 and a 12 month 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. The company has a 50 day simple moving average of $44.40 and a 200-day simple moving average of $47.24.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. Knight-Swift Transportation's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 earnings per share. Analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.52%. Knight-Swift Transportation's payout ratio is 76.60%.

Knight-Swift Transportation Profile

(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.

See Also

Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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