Turtle Creek Asset Management Inc. trimmed its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 25.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,213 shares of the transportation company’s stock after selling 16,500 shares during the period. Turtle Creek Asset Management Inc.’s holdings in Knight-Swift Transportation were worth $2,719,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in KNX. Fifth Third Wealth Advisors LLC increased its stake in Knight-Swift Transportation by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 5,183 shares of the transportation company’s stock valued at $298,000 after acquiring an additional 222 shares during the period. Fifth Third Bancorp raised its holdings in Knight-Swift Transportation by 44.4% in the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 267 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Knight-Swift Transportation by 123.9% in the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after acquiring an additional 301 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Knight-Swift Transportation by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,930 shares of the transportation company’s stock worth $2,091,000 after acquiring an additional 306 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Knight-Swift Transportation by 7.9% during the 4th quarter. Parallel Advisors LLC now owns 4,240 shares of the transportation company’s stock worth $222,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.
Knight-Swift Transportation Stock Up 1.4%
Shares of NYSE:KNX opened at $71.17 on Thursday. The company’s fifty day moving average is $75.66 and its 200-day moving average is $65.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.88. Knight-Swift Transportation Holdings Inc. has a 52 week low of $38.63 and a 52 week high of $82.86. The company has a market capitalization of $11.56 billion, a PE ratio of 273.74, a P/E/G ratio of 0.60 and a beta of 1.18.
Knight-Swift Transportation Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio is currently 307.69%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on KNX shares. UBS Group boosted their price objective on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Thursday, July 9th. Barclays increased their price objective on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Zacks Research raised shares of Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, Raymond James Financial lifted their target price on shares of Knight-Swift Transportation from $76.00 to $91.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $84.44.
About Knight-Swift Transportation
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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