Northern Trust Corp Acquires 322,541 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Northern Trust Corp increased its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,470,689 shares of the transportation company's stock after acquiring an additional 322,541 shares during the period. Northern Trust Corp owned about 0.91% of Knight-Swift Transportation worth $78,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KNX. Quarry LP increased its stake in Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company's stock worth $90,000 after acquiring an additional 500 shares during the last quarter. Oxford Asset Management LLP purchased a new position in Knight-Swift Transportation in the fourth quarter valued at $200,000. Boothbay Fund Management LLC boosted its holdings in Knight-Swift Transportation by 101.6% in the fourth quarter. Boothbay Fund Management LLC now owns 147,005 shares of the transportation company's stock valued at $7,797,000 after purchasing an additional 74,088 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Knight-Swift Transportation in the fourth quarter valued at $7,825,000. Finally, Voya Investment Management LLC lifted its holdings in Knight-Swift Transportation by 0.9% during 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. 88.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Knight-Swift Transportation

In other news, Director Douglas L. Col purchased 5,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $226,850. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KNX has been the subject of several research reports. TD Securities reduced their target price on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Raymond James cut their target price on Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating for the company in a research note on Friday, April 11th. 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. Wells Fargo & Company cut their target price on Knight-Swift Transportation from $55.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Benchmark reissued a "buy" rating and set a $63.00 target price on shares of Knight-Swift Transportation in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $50.60.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX traded down $0.74 during trading hours on Friday, hitting $42.43. 2,931,917 shares of the stock were exchanged, compared to its average volume of 2,311,724. Knight-Swift Transportation Holdings Inc. has a 1-year low of $36.69 and a 1-year high of $61.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. The company has a market cap of $6.88 billion, a PE ratio of 58.12 and a beta of 1.18. The company's fifty day simple moving average is $42.43 and its two-hundred day simple moving average is $50.53.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (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 business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business earned $0.12 earnings per share. Knight-Swift Transportation's revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, June 9th. Knight-Swift Transportation's payout ratio is currently 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.