Turtle Creek Asset Management Inc. trimmed its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,063 shares of the transportation company's stock after selling 19,800 shares during the period. Knight-Swift Transportation makes up approximately 0.3% of Turtle Creek Asset Management Inc.'s holdings, making the stock its 26th biggest holding. Turtle Creek Asset Management Inc. owned 0.15% of Knight-Swift Transportation worth $12,733,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of KNX. Victory Capital Management Inc. boosted its position in shares of Knight-Swift Transportation by 6.8% in the 4th quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company's stock worth $423,265,000 after purchasing an additional 506,491 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Knight-Swift Transportation by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company's stock valued at $370,819,000 after buying an additional 505,543 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Knight-Swift Transportation by 3.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company's stock valued at $221,541,000 after buying an additional 125,827 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Knight-Swift Transportation by 1.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,556,405 shares of the transportation company's stock worth $188,632,000 after acquiring an additional 63,241 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Knight-Swift Transportation by 36.8% during the fourth quarter. Franklin Resources Inc. now owns 1,885,438 shares of the transportation company's stock worth $100,004,000 after acquiring an additional 507,370 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
KNX has been the subject of several research analyst reports. Raymond James decreased their price objective on shares of Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on shares of Knight-Swift Transportation from $49.00 to $46.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. StockNews.com upgraded shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Wells Fargo & Company cut their target price on Knight-Swift Transportation from $55.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their target price on Knight-Swift Transportation from $55.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Knight-Swift Transportation currently has a consensus rating of "Moderate Buy" and an average price target of $50.73.
View Our Latest Stock Analysis on Knight-Swift Transportation
Insider Buying and Selling
In other Knight-Swift Transportation news, Director Douglas L. Col bought 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $45.37 per share, for a total transaction of $226,850.00. Following the transaction, the director now directly owns 5,000 shares of the company's stock, valued at approximately $226,850. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.
Knight-Swift Transportation Stock Performance
Knight-Swift Transportation stock traded down $0.15 during mid-day trading on Tuesday, hitting $45.26. The company had a trading volume of 2,346,912 shares, compared to its average volume of 2,332,104. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 62.00 and a beta of 1.18. The company's fifty day moving average is $42.24 and its 200-day moving average is $50.19. Knight-Swift Transportation Holdings Inc. has a 12-month low of $36.69 and a 12-month high of $61.51.
Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released 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. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.12 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. Equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.
Knight-Swift Transportation Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be paid a $0.18 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.59%. Knight-Swift Transportation's dividend payout ratio is presently 76.60%.
Knight-Swift Transportation Company Profile
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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.
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