DnB Asset Management AS Sells 70,468 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

DnB Asset Management AS lowered its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 68.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,480 shares of the transportation company’s stock after selling 70,468 shares during the period. DnB Asset Management AS’s holdings in Knight-Swift Transportation were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.

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

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $43.74 on Wednesday. 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 stock has a 50 day moving average price of $50.76 and a 200 day moving average price of $53.03. The stock has a market capitalization of $7.08 billion, a PE ratio of 59.91 and a beta of 0.97. Knight-Swift Transportation Holdings Inc. has a 52 week low of $42.34 and a 52 week high of $61.51.

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

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.65%. Knight-Swift Transportation’s payout ratio is currently 98.63%.

Analysts Set New Price Targets

A number of research analysts have issued reports on KNX shares. TD Cowen boosted their target price on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Bank of America lowered Knight-Swift Transportation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $66.00 to $46.00 in a research report on Tuesday. Raymond James raised their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Benchmark began coverage on shares of Knight-Swift Transportation in a report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Nine 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. Based on data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and a consensus price target of $57.59.

Insider Activity

In other Knight-Swift Transportation news, Director Douglas L. Col acquired 5,000 shares of the company’s stock in a transaction on 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 purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $226,850. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is owned by insiders.

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.