5,203 Shares in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Bought by RIA Advisory Group LLC

RIA Advisory Group LLC purchased a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,203 shares of the transportation company’s stock, valued at approximately $300,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KNX. Wellington Management Group LLP raised its stake in Knight-Swift Transportation by 15.2% during the 3rd quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company’s stock worth $680,962,000 after acquiring an additional 1,794,133 shares in the last quarter. Norges Bank acquired a new stake in Knight-Swift Transportation during the 4th quarter worth $90,026,000. Goldman Sachs Group Inc. raised its stake in Knight-Swift Transportation by 94.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock worth $85,249,000 after acquiring an additional 892,933 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Knight-Swift Transportation during the 1st quarter worth $27,013,000. Finally, Morgan Stanley grew its position in Knight-Swift Transportation by 8.4% during the 4th quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock worth $262,859,000 after purchasing an additional 387,501 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Performance

Shares of NYSE:KNX traded up $0.26 during midday trading on Friday, hitting $48.14. The stock had a trading volume of 2,443,696 shares, compared to its average volume of 2,116,055. The company has a market capitalization of $7.77 billion, a PE ratio of 36.17, a P/E/G ratio of 1.40 and a beta of 0.99. The stock has a 50 day moving average price of $54.83 and a two-hundred day moving average price of $54.19. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.73 and a 1 year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.38). The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. As a group, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.3 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.33%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s payout ratio is currently 48.12%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Loop Capital downgraded shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $63.00 to $53.00 in a research report on Thursday. Bank of America lowered their price objective on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Stephens lowered their price objective on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, TD Cowen lowered their price objective on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Knight-Swift Transportation has an average rating of “Moderate Buy” and an average target price of $57.77.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.