Principal Financial Group Inc. Trims Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Principal Financial Group Inc. lowered its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 11.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 825,842 shares of the transportation company's stock after selling 107,517 shares during the quarter. Principal Financial Group Inc. owned approximately 0.51% of Knight-Swift Transportation worth $35,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Knight-Swift Transportation by 7.8% during 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 increased its position in shares of Knight-Swift Transportation by 1.8% during 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 purchasing an additional 63,241 shares during the last quarter. Franklin Resources Inc. increased its position 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 valued at $100,004,000 after purchasing an additional 507,370 shares during the last quarter. Interval Partners LP increased its position 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 valued at $93,076,000 after purchasing an additional 1,337,727 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in Knight-Swift Transportation by 11.8% in 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 acquiring an additional 179,980 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Wall Street Analyst Weigh In

KNX has been the subject of several analyst reports. TD Securities reduced their target price on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company increased their target price on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Barclays dropped their price target on Knight-Swift Transportation from $62.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Evercore ISI dropped their price target 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. Finally, JPMorgan Chase & Co. dropped their price target on Knight-Swift Transportation from $49.00 to $46.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Knight-Swift Transportation currently has an average rating of "Moderate Buy" and a consensus price target of $53.25.

Knight-Swift Transportation Stock Performance

KNX stock opened at $46.18 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.30. The business's fifty day simple moving average is $43.88 and its two-hundred day simple moving average is $47.27. Knight-Swift Transportation Holdings Inc. has a twelve month low of $36.69 and a twelve month high of $61.51. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 49.13, a PEG ratio of 0.70 and a beta of 1.17.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.79% and a net margin of 2.04%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Monday, June 9th. Knight-Swift Transportation's payout ratio is currently 76.60%.

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.

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