Freestone Grove Partners LP Makes New Investment in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Freestone Grove Partners LP acquired a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 297,299 shares of the transportation company's stock, valued at approximately $15,769,000. Freestone Grove Partners LP owned approximately 0.18% of Knight-Swift Transportation as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Knight-Swift Transportation by 6.8% during the 4th quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company's stock worth $423,265,000 after acquiring an additional 506,491 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Knight-Swift Transportation by 7.8% in 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. Allspring Global Investments Holdings LLC grew its stake in shares of Knight-Swift Transportation by 3.1% in the 4th 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 period. Franklin Resources Inc. increased its holdings 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 worth $100,004,000 after buying an additional 507,370 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Knight-Swift Transportation by 28.1% during the 4th quarter. Northern Trust Corp now owns 1,470,689 shares of the transportation company's stock valued at $78,005,000 after buying an additional 322,541 shares during the period. Institutional investors and hedge funds own 88.77% of the company's stock.

Knight-Swift Transportation Stock Down 0.5 %

NYSE KNX traded down $0.21 on Monday, hitting $41.24. 2,439,130 shares of the stock were exchanged, compared to its average volume of 2,294,757. The company has a market cap of $6.68 billion, a PE ratio of 56.49 and a beta of 1.16. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $43.17 and a 200-day moving average price of $50.90. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $36.69 and a fifty-two week high of $61.51.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) 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 analyst estimates of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 earnings per share. Sell-side analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. Knight-Swift Transportation's payout ratio is currently 76.60%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KNX shares. Barclays cut their target price 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. Bank of America lowered shares of Knight-Swift Transportation from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $66.00 to $46.00 in a research note on Tuesday, April 1st. JPMorgan Chase & Co. reduced their price target on shares of 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. Evercore ISI dropped their target price on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Finally, UBS Group decreased their price target on Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of "Moderate Buy" and an average price target of $50.60.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Douglas L. Col acquired 5,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now owns 5,000 shares of the company's stock, valued at $226,850. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

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.