Teacher Retirement System of Texas Invests $1.99 Million in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Teacher Retirement System of Texas acquired a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 45,729 shares of the transportation company's stock, valued at approximately $1,989,000.

A number of other hedge funds also recently made changes to their positions in the business. Voya Investment Management LLC lifted its position in Knight-Swift Transportation by 0.9% in the 4th quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company's stock worth $1,090,000 after buying an additional 192 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Knight-Swift Transportation by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company's stock valued at $355,000 after purchasing an additional 216 shares during the last quarter. Signaturefd LLC lifted its position in Knight-Swift Transportation by 8.5% in the fourth quarter. Signaturefd LLC now owns 2,769 shares of the transportation company's stock valued at $147,000 after purchasing an additional 218 shares during the last quarter. Bessemer Group Inc. lifted its position in Knight-Swift Transportation by 6.1% in the fourth quarter. Bessemer Group Inc. now owns 3,882 shares of the transportation company's stock valued at $206,000 after purchasing an additional 222 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Knight-Swift Transportation by 2.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 12,497 shares of the transportation company's stock valued at $663,000 after purchasing an additional 300 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KNX. Robert W. Baird began coverage on Knight-Swift Transportation in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $55.00 price objective for the company. Stifel Nicolaus lowered their price objective on Knight-Swift Transportation from $57.00 to $49.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Baird R W upgraded Knight-Swift Transportation to a "strong-buy" rating in a research report on Tuesday, July 1st. Susquehanna boosted their price objective on Knight-Swift Transportation from $45.00 to $52.00 and gave the company a "positive" rating in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company boosted their price objective on Knight-Swift Transportation from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.06.

Knight-Swift Transportation Stock Down 1.1%

KNX stock traded down $0.53 during midday trading on Monday, hitting $46.76. The stock had a trading volume of 2,210,587 shares, compared to its average volume of 2,416,282. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 49.75, a price-to-earnings-growth ratio of 0.71 and a beta of 1.17. The business has a 50-day moving average of $44.62 and a two-hundred day moving average of $47.06. Knight-Swift Transportation Holdings Inc. has a 52-week low of $36.69 and a 52-week high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.79% and a net margin of 2.04%. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. As a group, equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were paid a $0.18 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.72 annualized dividend and a yield of 1.54%. Knight-Swift Transportation's payout ratio is 76.60%.

Knight-Swift Transportation Company 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.