Swiss National Bank Sells 22,500 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Swiss National Bank trimmed its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 4.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 457,196 shares of the transportation company’s stock after selling 22,500 shares during the period. Swiss National Bank’s holdings in Knight-Swift Transportation were worth $24,250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Knight-Swift Transportation by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock valued at $71,000 after purchasing an additional 208 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Knight-Swift Transportation by 20.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after buying an additional 213 shares during the last quarter. MML Investors Services LLC raised its stake in Knight-Swift Transportation by 4.6% in the third quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company’s stock valued at $280,000 after buying an additional 228 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of Knight-Swift Transportation by 4.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,301 shares of the transportation company’s stock valued at $281,000 after buying an additional 235 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Knight-Swift Transportation by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,924 shares of the transportation company’s stock worth $261,000 after acquiring an additional 252 shares during the period. 88.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KNX. Citigroup upgraded Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price target on the stock in a research note on Monday, March 10th. Raymond James raised their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group upped their price target on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. TD Cowen boosted their price objective on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Benchmark assumed coverage on Knight-Swift Transportation in a research note on Tuesday, March 4th. They set a “buy” rating and a $63.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.41.

Insider Activity at Knight-Swift Transportation

In related news, Director Douglas L. Col bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $226,850. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

Knight-Swift Transportation Price Performance

KNX stock opened at $47.06 on Tuesday. The company’s 50-day moving average price is $52.97 and its two-hundred day moving average price is $53.58. The firm has a market cap of $7.62 billion, a P/E ratio of 64.46 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation Holdings Inc. has a 12 month low of $44.95 and a 12 month high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. On average, analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.18 per share. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio is currently 98.63%.

About Knight-Swift Transportation

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.