241,400 Shares in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Bought by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. bought a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 241,400 shares of the transportation company’s stock, valued at approximately $10,498,000. Adams Diversified Equity Fund Inc. owned approximately 0.15% of Knight-Swift Transportation as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in Knight-Swift Transportation by 88.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock worth $36,000 after acquiring an additional 322 shares in the last quarter. UMB Bank n.a. boosted its position in Knight-Swift Transportation by 40.0% during the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company’s stock valued at $49,000 after buying an additional 324 shares during the period. Quarry LP boosted its position in Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company’s stock valued at $90,000 after buying an additional 500 shares during the period. Generali Asset Management SPA SGR purchased a new stake in Knight-Swift Transportation during the fourth quarter valued at about $99,000. Finally, Quadrant Capital Group LLC boosted its position in Knight-Swift Transportation by 21.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company’s stock valued at $113,000 after buying an additional 375 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNX has been the subject of several analyst reports. Raymond James Financial cut their price target on shares of Knight-Swift Transportation from $66.00 to $55.00 and set a “strong-buy” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus lowered their price objective on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company upped their price objective on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. lowered their price objective on shares of Knight-Swift Transportation from $49.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, Susquehanna upped their price objective on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the company a “positive” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Knight-Swift Transportation has an average rating of “Moderate Buy” and a consensus price target of $53.13.

Knight-Swift Transportation Price Performance

KNX stock opened at $44.32 on Wednesday. The company has a market cap of $7.18 billion, a P/E ratio of 47.15, a PEG ratio of 0.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.88. Knight-Swift Transportation Holdings Inc. has a 1 year low of $36.69 and a 1 year high of $61.51. The firm has a 50-day moving average of $42.69 and a 200 day moving average of $47.88.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share 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 analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. On average, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 9th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Monday, June 9th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 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.