Primecap Management Co. CA Reduces Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Primecap Management Co. CA lessened its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 176,700 shares of the transportation company’s stock after selling 500 shares during the quarter. Primecap Management Co. CA owned 0.11% of Knight-Swift Transportation worth $9,372,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in shares of Knight-Swift Transportation by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 322 shares during the period. UMB Bank n.a. boosted its holdings in shares of Knight-Swift Transportation by 84.3% in the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after buying an additional 370 shares during the last quarter. Quarry LP increased its holdings in Knight-Swift Transportation by 71.1% during the third quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after buying an additional 499 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Knight-Swift Transportation by 20.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after acquiring an additional 213 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Knight-Swift Transportation by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after acquiring an additional 208 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Wall Street Analyst Weigh In

KNX has been the topic of a number of recent research reports. Raymond James raised their target price on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Bank of America raised their price objective on Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup upgraded Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price objective for the company in a research note on Monday, March 10th. TD Cowen raised their target price on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and upped their price target for the stock from $48.00 to $67.00 in a research report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation has an average rating of “Moderate Buy” and an average price target of $59.41.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Douglas L. Col purchased 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $226,850. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Trading Down 2.6 %

Shares of Knight-Swift Transportation stock opened at $45.19 on Thursday. Knight-Swift Transportation Holdings Inc. has a twelve month low of $44.94 and a twelve month high of $61.51. 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 business has a 50-day moving average price of $52.65 and a 200-day moving average price of $53.48. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 61.90 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. Equities research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.72 annualized dividend and a yield of 1.59%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s dividend payout ratio (DPR) is 98.63%.

About Knight-Swift Transportation

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.