RiverPark Advisors LLC Buys 718 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

RiverPark Advisors LLC grew its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 160.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,165 shares of the transportation company’s stock after acquiring an additional 718 shares during the period. RiverPark Advisors LLC’s holdings in Knight-Swift Transportation were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Knight-Swift Transportation by 15.7% during the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after buying an additional 2,137,296 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Knight-Swift Transportation by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after buying an additional 57,000 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Knight-Swift Transportation by 908.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after buying an additional 3,767,408 shares in the last quarter. Norges Bank purchased a new stake in shares of Knight-Swift Transportation during the 4th quarter valued at approximately $201,232,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Knight-Swift Transportation by 10.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,371,944 shares of the transportation company’s stock valued at $185,524,000 after buying an additional 311,788 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock traded down $1.34 on Tuesday, hitting $47.99. 1,959,331 shares of the company traded hands, compared to its average volume of 2,108,773. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99. The firm’s 50-day simple moving average is $48.32 and its 200 day simple moving average is $52.70. The company has a market cap of $7.76 billion, a P/E ratio of 71.63, a P/E/G ratio of 1.25 and a beta of 0.94.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business posted $0.73 EPS. Knight-Swift Transportation’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.26 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Monday, June 10th. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Analyst Ratings Changes

Several analysts have issued reports on KNX shares. Barclays lowered their target price on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. UBS Group lowered their target price on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America lowered their target price on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Stephens lowered their target price on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Finally, Stifel Nicolaus cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and lowered their target price for the stock from $53.00 to $47.00 in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

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.