PNC Financial Services Group Inc. lifted its stake in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 112.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,220 shares of the transportation company’s stock after buying an additional 19,661 shares during the period. PNC Financial Services Group Inc.’s holdings in Knight-Swift Transportation were worth $933,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC bought a new stake in shares of Knight-Swift Transportation in the 3rd quarter worth approximately $53,000. We Are One Seven LLC bought a new stake in shares of Knight-Swift Transportation in the 4th quarter worth approximately $74,000. Oregon Public Employees Retirement Fund boosted its position in shares of Knight-Swift Transportation by 2,585.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,390,048 shares of the transportation company’s stock worth $95,000 after purchasing an additional 2,301,060 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Knight-Swift Transportation in the 3rd quarter worth approximately $104,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Knight-Swift Transportation by 10.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,650 shares of the transportation company’s stock worth $117,000 after purchasing an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 80.50% of the company’s stock.
KNX stock opened at $34.77 on Friday. The company has a market capitalization of $5.85 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.83 and a beta of 1.93. Knight-Swift Transportation Holdings Inc has a 12-month low of $23.27 and a 12-month high of $50.35. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.12.
Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Tuesday, January 29th. The transportation company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Knight-Swift Transportation had a return on equity of 8.46% and a net margin of 7.85%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.71 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Monday, March 4th will be given a $0.06 dividend. The ex-dividend date is Friday, March 1st. This represents a $0.24 annualized dividend and a yield of 0.69%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 9.38%.
A number of analysts have recently commented on the company. Zacks Investment Research raised Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Monday, December 10th. ValuEngine raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Finally, TheStreet cut Knight-Swift Transportation from a “b-” rating to a “c+” rating in a research report on Thursday, December 27th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Knight-Swift Transportation has a consensus rating of “Buy” and an average target price of $45.17.
In other Knight-Swift Transportation news, VP Shannon Breen sold 750 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $34.09, for a total transaction of $25,567.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jerry Moyes sold 1,173,680 shares of the business’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $24.98, for a total transaction of $29,318,526.40. The disclosure for this sale can be found here. Insiders sold a total of 1,509,508 shares of company stock worth $40,480,225 over the last ninety days. 27.50% of the stock is currently owned by insiders.
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Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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