PNC Financial Services Group Inc. boosted its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 43.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,966 shares of the transportation company’s stock after buying an additional 6,983 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Knight-Swift Transportation were worth $1,201,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of KNX. Caitong International Asset Management Co. Ltd lifted its position in shares of Knight-Swift Transportation by 1,478.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock worth $35,000 after purchasing an additional 828 shares during the last quarter. MMA Asset Management LLC acquired a new position in shares of Knight-Swift Transportation during the 3rd quarter worth about $41,000. Fifth Third Bancorp lifted its position in shares of Knight-Swift Transportation by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after purchasing an additional 267 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Knight-Swift Transportation by 54.2% during the 4th quarter. Farther Finance Advisors LLC now owns 956 shares of the transportation company’s stock worth $50,000 after purchasing an additional 336 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of Knight-Swift Transportation during the 3rd quarter worth about $99,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
KNX has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Evercore raised Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Friday, March 27th. Susquehanna upped their price target on Knight-Swift Transportation from $60.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. UBS Group upped their price target on Knight-Swift Transportation from $66.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Barclays upped their price target on Knight-Swift Transportation from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.71.
Knight-Swift Transportation Price Performance
Shares of Knight-Swift Transportation stock opened at $75.12 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50-day simple moving average is $62.81 and its 200-day simple moving average is $57.14. Knight-Swift Transportation Holdings Inc. has a twelve month low of $38.63 and a twelve month high of $75.66. The firm has a market cap of $12.21 billion, a P/E ratio of 357.73 and a beta of 1.15.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.12 EPS for the current fiscal year.
Knight-Swift Transportation Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Monday, June 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio is currently 380.95%.
Knight-Swift Transportation Profile
Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.
The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.
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