Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 42.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,349 shares of the transportation company’s stock after acquiring an additional 14,770 shares during the quarter. Pinebridge Investments L.P.’s holdings in Knight-Swift Transportation were worth $2,617,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KNX. Stanley Laman Group Ltd. bought a new stake in Knight-Swift Transportation during the fourth quarter valued at $3,021,000. Charles Schwab Investment Management Inc. grew its position in shares of Knight-Swift Transportation by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,175,335 shares of the transportation company’s stock valued at $62,340,000 after buying an additional 28,387 shares during the last quarter. Principal Financial Group Inc. raised its stake in Knight-Swift Transportation by 21.5% during the third quarter. Principal Financial Group Inc. now owns 653,238 shares of the transportation company’s stock worth $35,242,000 after acquiring an additional 115,447 shares during the period. New England Research & Management Inc. lifted its holdings in Knight-Swift Transportation by 199.2% in the fourth quarter. New England Research & Management Inc. now owns 29,625 shares of the transportation company’s stock worth $1,571,000 after acquiring an additional 19,725 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Knight-Swift Transportation in the fourth quarter valued at approximately $749,000. 88.77% of the stock is currently owned by institutional investors.

Insider Activity at Knight-Swift Transportation

In other news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation stock in a transaction on 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 completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $226,850. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KNX has been the topic of a number of research reports. Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $53.00 to $48.00 in a research report on Tuesday, April 8th. The Goldman Sachs Group cut their target price on Knight-Swift Transportation from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Benchmark reissued a “buy” rating and set a $63.00 price target on shares of Knight-Swift Transportation in a report on Monday, April 14th. Evercore ISI dropped their price objective on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an “in-line” rating on the stock in a report on Thursday. Finally, Barclays reduced their target price on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Knight-Swift Transportation has an average rating of “Moderate Buy” and a consensus target price of $50.60.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $38.93 on Friday. 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’s 50-day moving average price is $44.40 and its 200 day moving average price is $51.31. Knight-Swift Transportation Holdings Inc. has a 52-week low of $36.69 and a 52-week high of $61.51. The firm has a market cap of $6.31 billion, a P/E ratio of 53.33 and a beta of 1.16.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. As a group, sell-side 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 business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio is currently 76.60%.

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.