KLP Kapitalforvaltning AS Takes $2.37 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

KLP Kapitalforvaltning AS purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 44,600 shares of the transportation company’s stock, valued at approximately $2,366,000.

Several other hedge funds and other institutional investors have also modified their holdings of KNX. Quest Partners LLC purchased a new stake in shares of Knight-Swift Transportation during the 3rd quarter worth about $88,000. Charles Schwab Investment Management Inc. increased its holdings in Knight-Swift Transportation by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company’s stock worth $61,878,000 after buying an additional 26,346 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Knight-Swift Transportation by 9.9% during the third quarter. Daiwa Securities Group Inc. now owns 12,197 shares of the transportation company’s stock valued at $658,000 after acquiring an additional 1,100 shares in the last quarter. Bank of Montreal Can lifted its stake in Knight-Swift Transportation by 180.6% in the third quarter. Bank of Montreal Can now owns 81,266 shares of the transportation company’s stock valued at $4,392,000 after acquiring an additional 52,309 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Knight-Swift Transportation by 116.1% in the third quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company’s stock worth $7,056,000 after acquiring an additional 70,276 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $44.63 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a one year low of $42.72 and a one year high of $61.51. The company has a fifty day moving average price of $51.44 and a 200 day moving average price of $53.17. The stock has a market cap of $7.23 billion, a P/E ratio of 61.14 and a beta of 0.97.

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

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 98.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on KNX shares. Benchmark started coverage on shares of Knight-Swift Transportation in a report on Tuesday, March 4th. They set a “buy” rating and a $63.00 price target on the stock. TD Cowen boosted their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Citigroup raised Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price objective on the stock in a report on Monday, March 10th. Wells Fargo & Company cut their price objective on Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group upped their target price on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Eight investment 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. Based on data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and an average price target of $58.59.

Insider Transactions at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $226,850. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.

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.