Wedge Capital Management L L P NC Has $9.40 Million Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Wedge Capital Management L L P NC raised its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,125 shares of the transportation company's stock after buying an additional 5,729 shares during the period. Wedge Capital Management L L P NC owned 0.13% of Knight-Swift Transportation worth $9,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Strategic Financial Concepts LLC acquired a new stake in Knight-Swift Transportation in the 4th quarter worth approximately $1,796,000. WCM Investment Management LLC bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at approximately $16,256,000. Stephens Inc. AR raised its position in shares of Knight-Swift Transportation by 1.2% in the fourth quarter. Stephens Inc. AR now owns 236,184 shares of the transportation company's stock valued at $12,527,000 after purchasing an additional 2,897 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 worth $221,541,000 after buying an additional 125,827 shares during the last quarter. Finally, Legato Capital Management LLC boosted its holdings in shares of Knight-Swift Transportation by 149.3% during the 4th quarter. Legato Capital Management LLC now owns 13,385 shares of the transportation company's stock worth $710,000 after buying an additional 8,015 shares during the period. Institutional investors and hedge funds own 88.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KNX. The Goldman Sachs Group upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $45.00 to $65.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. dropped their price objective on Knight-Swift Transportation from $49.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Bank of America increased their target price on Knight-Swift Transportation from $43.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company raised their target price on Knight-Swift Transportation from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Finally, Barclays cut their price target on Knight-Swift Transportation from $62.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of "Moderate Buy" and a consensus price target of $52.67.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX traded up $0.28 during trading hours on Thursday, reaching $43.96. The stock had a trading volume of 2,188,126 shares, compared to its average volume of 2,340,628. Knight-Swift Transportation Holdings Inc. has a twelve month low of $36.69 and a twelve month high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. The business's fifty day moving average is $42.19 and its two-hundred day moving average is $48.86. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 60.22 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter in the prior year, the company posted $0.12 EPS. The business's revenue was up 1.3% on a year-over-year basis. As a group, research 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 announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Monday, June 9th will be issued a $0.18 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.64%. Knight-Swift Transportation's payout ratio is presently 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.