State of New Jersey Common Pension Fund D Grows Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

State of New Jersey Common Pension Fund D raised its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 83,304 shares of the transportation company’s stock after buying an additional 3,511 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Knight-Swift Transportation were worth $4,802,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KNX. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Knight-Swift Transportation by 136.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 667 shares of the transportation company’s stock worth $38,000 after purchasing an additional 385 shares during the last quarter. Blue Trust Inc. grew its stake in Knight-Swift Transportation by 80.3% in the fourth quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 326 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new stake in shares of Knight-Swift Transportation in the third quarter worth about $42,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Knight-Swift Transportation by 25.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,000 shares of the transportation company’s stock worth $50,000 after buying an additional 200 shares during the last quarter. Finally, Planned Solutions Inc. bought a new position in Knight-Swift Transportation during the fourth quarter valued at about $92,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KNX has been the topic of a number of research analyst reports. Stephens decreased their price target on Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Evercore ISI dropped their price target on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an “in-line” rating for the company in a research report on Thursday. Stifel Nicolaus cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $53.00 to $47.00 in a research note on Friday. Robert W. Baird dropped their price objective on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Barclays decreased their price target on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Knight-Swift Transportation has an average rating of “Hold” and an average price target of $57.71.

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock traded down $0.26 during trading hours on Friday, reaching $46.88. 4,211,688 shares of the company’s stock were exchanged, compared to its average volume of 2,188,422. The business has a fifty day moving average of $53.72 and a two-hundred day moving average of $54.17. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.57 billion, a P/E ratio of 69.99, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. 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 released its earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.53% and a net margin of 1.50%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 earnings per share. As a group, research analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.31 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.16 dividend. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 7th. This represents a $0.64 annualized dividend and a yield of 1.37%. Knight-Swift Transportation’s payout ratio is presently 95.52%.

Insider Activity at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate 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.