Pzena Investment Management LLC Takes $66.15 Million Position in Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Pzena Investment Management bought a new stake in Knight-Swift Transportation during the fourth quarter, purchasing 1,265,317 shares valued at about $66.15 million. The position represents roughly 0.78% of the company.
• Several other institutional investors also adjusted holdings, and hedge funds plus institutions now own 88.77% of Knight-Swift’s stock. Notable activity included large additions by Victory Capital Management and William Blair Investment Management.
• Knight-Swift recently reported quarterly EPS of $0.09, missing estimates, while revenue was in line at $1.85 billion. The company also announced a quarterly dividend of $0.20 per share and has drawn mixed-to-positive analyst attention with multiple price target increases.

Pzena Investment Management LLC purchased a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,265,317 shares of the transportation company's stock, valued at approximately $66,151,000. Pzena Investment Management LLC owned about 0.78% of Knight-Swift Transportation as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. purchased a new stake in shares of Knight-Swift Transportation during the 3rd quarter valued at about $830,000. Victory Capital Management Inc. boosted its holdings in shares of Knight-Swift Transportation by 0.9% in the third quarter. Victory Capital Management Inc. now owns 8,496,137 shares of the transportation company's stock worth $335,682,000 after buying an additional 76,342 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Knight-Swift Transportation in the third quarter worth approximately $913,000. William Blair Investment Management LLC boosted its holdings in shares of Knight-Swift Transportation by 8,184.6% in the third quarter. William Blair Investment Management LLC now owns 509,919 shares of the transportation company's stock worth $20,147,000 after buying an additional 503,764 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of Knight-Swift Transportation by 31.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 85,396 shares of the transportation company's stock worth $3,374,000 after buying an additional 20,187 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KNX. Susquehanna raised their price objective on shares of Knight-Swift Transportation from $60.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Citigroup raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and set a $64.00 price objective on the stock in a report on Friday, March 13th. Wells Fargo & Company raised their price objective on shares of Knight-Swift Transportation from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. TD Cowen raised their price objective on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, UBS Group raised their price objective on shares of Knight-Swift Transportation from $66.00 to $79.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.71.

Knight-Swift Transportation Trading Down 1.1%

Knight-Swift Transportation stock opened at $70.23 on Friday. The stock has a market cap of $11.41 billion, a P/E ratio of 334.46 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. Knight-Swift Transportation Holdings Inc. has a 1 year low of $38.63 and a 1 year high of $71.63. The firm's 50 day moving average price is $60.86 and its 200-day moving average price is $56.17.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. On average, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.12 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

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

Insider Activity

In other news, CFO Joshua Smith sold 5,770 shares of Knight-Swift Transportation 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 sale, the chief financial officer owned 9,214 shares in the company, valued at $561,224.74. This trade represents a 38.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by insiders.

Knight-Swift Transportation Company Profile

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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