Cushing Asset Management LP boosted its stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,477 shares of the transportation company’s stock after purchasing an additional 8,056 shares during the period. Cushing Asset Management LP owned approximately 0.14% of Knight-Swift Transportation worth $10,864,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. raised its stake in Knight-Swift Transportation by 6.0% during the fourth quarter. BlackRock Inc. now owns 14,341,294 shares of the transportation company’s stock worth $627,000,000 after purchasing an additional 808,692 shares during the period. Bank of New York Mellon Corp raised its stake in Knight-Swift Transportation by 97.1% during the third quarter. Bank of New York Mellon Corp now owns 8,427,755 shares of the transportation company’s stock worth $350,174,000 after purchasing an additional 4,151,669 shares during the period. Wasatch Advisors Inc. raised its stake in Knight-Swift Transportation by 8.4% during the third quarter. Wasatch Advisors Inc. now owns 5,564,873 shares of the transportation company’s stock worth $231,220,000 after purchasing an additional 431,493 shares during the period. Standard Life Aberdeen plc purchased a new position in Knight-Swift Transportation during the fourth quarter worth approximately $225,393,000. Finally, Victory Capital Management Inc. raised its stake in Knight-Swift Transportation by 403.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,800,988 shares of the transportation company’s stock worth $78,740,000 after purchasing an additional 1,443,312 shares during the period. 80.52% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on KNX shares. ValuEngine raised shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Knight Equity raised shares of Knight-Swift Transportation to a “buy” rating in a research note on Sunday, November 26th. KeyCorp raised shares of Knight-Swift Transportation from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, November 14th. Credit Suisse Group increased their price target on shares of Knight-Swift Transportation from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Finally, Cowen increased their price target on shares of Knight-Swift Transportation from $38.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $49.60.
Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Tuesday, January 30th. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.13. Knight-Swift Transportation had a net margin of 12.58% and a return on equity of 5.92%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 370.2% on a year-over-year basis. sell-side analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.26 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Thursday, March 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Wednesday, February 28th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 8.35%.
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About Knight-Swift Transportation
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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