Hsbc Holdings PLC lowered its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 86.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,860 shares of the transportation company’s stock after selling 128,002 shares during the quarter. Hsbc Holdings PLC’s holdings in Knight-Swift Transportation were worth $1,041,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of KNX. Rockefeller Capital Management L.P. boosted its position in Knight-Swift Transportation by 6.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 34,388 shares of the transportation company’s stock valued at $1,798,000 after buying an additional 2,084 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Knight-Swift Transportation by 44.8% during the fourth quarter. Corient Private Wealth LLC now owns 12,143 shares of the transportation company’s stock worth $635,000 after acquiring an additional 3,757 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in shares of Knight-Swift Transportation during the fourth quarter valued at $217,000. Dean Capital Management lifted its stake in shares of Knight-Swift Transportation by 3.2% during the fourth quarter. Dean Capital Management now owns 44,563 shares of the transportation company’s stock valued at $2,330,000 after acquiring an additional 1,392 shares during the period. Finally, Compound Planning Inc. bought a new position in Knight-Swift Transportation in the fourth quarter valued at about $243,000. Institutional investors own 88.77% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on KNX shares. Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Thursday. Benchmark upped their target price on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. TD Cowen raised their target price on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Robert W. Baird lifted their price target on shares of Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Morgan Stanley boosted their price target on shares of Knight-Swift Transportation from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $79.88.
Knight-Swift Transportation Stock Down 1.0%
Shares of Knight-Swift Transportation stock opened at $74.46 on Tuesday. The business has a fifty day simple moving average of $73.53 and a 200 day simple moving average of $63.65. The stock has a market cap of $12.10 billion, a PE ratio of 354.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. Knight-Swift Transportation Holdings Inc. has a 12 month low of $38.63 and a 12 month high of $82.86.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its earnings results 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 analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $0.28 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.18 EPS for the current year.
Knight-Swift Transportation Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.80 annualized dividend and a yield of 1.1%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 380.95%.
Knight-Swift Transportation Company 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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