Swiss National Bank Decreases Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Swiss National Bank lessened its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 31.4% during the 1st quarter, HoldingsChannel reports. The firm owned 313,696 shares of the transportation company’s stock after selling 143,500 shares during the period. Swiss National Bank’s holdings in Knight-Swift Transportation were worth $13,643,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KNX. LPL Financial LLC lifted its stake in shares of Knight-Swift Transportation by 28.3% in the fourth quarter. LPL Financial LLC now owns 31,736 shares of the transportation company’s stock worth $1,683,000 after buying an additional 6,991 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Knight-Swift Transportation by 20.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 119,080 shares of the transportation company’s stock valued at $6,316,000 after acquiring an additional 20,183 shares during the last quarter. Invesco Ltd. lifted its stake in Knight-Swift Transportation by 1.5% in the 4th quarter. Invesco Ltd. now owns 727,155 shares of the transportation company’s stock worth $38,568,000 after purchasing an additional 10,954 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Knight-Swift Transportation in the 4th quarter worth approximately $15,111,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Knight-Swift Transportation by 6.1% during the 4th quarter. Bessemer Group Inc. now owns 3,882 shares of the transportation company’s stock worth $206,000 after purchasing an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Analyst Upgrades and Downgrades

KNX has been the subject of several recent research reports. Susquehanna increased their price target on Knight-Swift Transportation from $45.00 to $52.00 and gave the company a “positive” rating in a report on Tuesday, June 24th. The Goldman Sachs Group raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $45.00 to $65.00 in a research note on Monday, June 2nd. TD Securities reduced their price target on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 28th. Finally, Bank of America raised their price objective on shares of Knight-Swift Transportation from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.88.

Knight-Swift Transportation Stock Down 2.3%

Shares of NYSE KNX opened at $43.08 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $44.34 and its two-hundred day moving average is $45.39. Knight-Swift Transportation Holdings Inc. has a 52-week low of $36.69 and a 52-week high of $61.51. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 42.23, a PEG ratio of 0.66 and a beta of 1.17.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Knight-Swift Transportation had a return on equity of 3.03% and a net margin of 2.22%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Research analysts predict 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 will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.72 annualized dividend and a dividend yield of 1.7%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 70.59%.

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.