Pinebridge Investments L.P. Raises Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Pinebridge Investments L.P. raised its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 42.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 49,349 shares of the transportation company's stock after acquiring an additional 14,770 shares during the period. Pinebridge Investments L.P.'s holdings in Knight-Swift Transportation were worth $2,617,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in shares of Knight-Swift Transportation during the third quarter valued at approximately $378,000. Franklin Resources Inc. bought a new stake in shares of Knight-Swift Transportation in the 3rd quarter worth $70,185,000. American Trust purchased a new stake in shares of Knight-Swift Transportation in the third quarter valued at about $204,000. Principal Financial Group Inc. lifted its position in shares of Knight-Swift Transportation by 21.5% during the third quarter. Principal Financial Group Inc. now owns 653,238 shares of the transportation company's stock valued at $35,242,000 after purchasing an additional 115,447 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company's stock worth $71,000 after purchasing an additional 208 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Performance

KNX traded up $2.22 during midday trading on Friday, hitting $41.20. 855,494 shares of the company traded hands, compared to its average volume of 2,280,350. The company's 50-day moving average is $43.35 and its 200 day moving average is $50.99. Knight-Swift Transportation Holdings Inc. has a 52 week low of $36.69 and a 52 week high of $61.51. The firm has a market capitalization of $6.67 billion, a PE ratio of 56.48 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.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period last year, the firm earned $0.12 EPS. Knight-Swift Transportation's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $53.00 to $48.00 in a research report on Tuesday, April 8th. TD Cowen lowered their target price on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. UBS Group reduced their price target on shares of Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group reduced their target price on shares of Knight-Swift Transportation from $55.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Susquehanna lowered their price target on shares of Knight-Swift Transportation from $54.00 to $45.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.60.

Insider Transactions at Knight-Swift Transportation

In related news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation 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 completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $226,850. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company's stock.

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.