BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 237.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,723 shares of the transportation company’s stock after purchasing an additional 70,146 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of Knight-Swift Transportation worth $2,500,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Paradigm Asset Management Co. LLC acquired a new position in shares of Knight-Swift Transportation in the third quarter worth about $53,000. We Are One Seven LLC acquired a new position in shares of Knight-Swift Transportation in the fourth quarter worth about $74,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Knight-Swift Transportation by 2,585.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,390,048 shares of the transportation company’s stock worth $95,000 after acquiring an additional 2,301,060 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Knight-Swift Transportation in the third quarter worth about $104,000. Finally, Ffcm LLC acquired a new position in shares of Knight-Swift Transportation in the fourth quarter worth about $106,000. Institutional investors own 80.50% of the company’s stock.
KNX has been the topic of several recent analyst reports. Zacks Investment Research cut Knight-Swift Transportation from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. ValuEngine cut Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. TheStreet upgraded Knight-Swift Transportation from a “c+” rating to a “b-” rating in a research note on Wednesday, February 13th. UBS Group restated a “neutral” rating and set a $36.00 price objective (down previously from $43.00) on shares of Knight-Swift Transportation in a research note on Tuesday, December 4th. Finally, Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 22nd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $45.17.
In other news, insider Jerry Moyes sold 1,173,680 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $24.98, for a total transaction of $29,318,526.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shannon Breen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $34.82, for a total value of $34,820.00. The disclosure for this sale can be found here. Insiders have sold 1,510,508 shares of company stock valued at $40,515,045 over the last ninety days. Corporate insiders own 27.50% of the company’s stock.
Shares of NYSE KNX opened at $33.94 on Friday. Knight-Swift Transportation Holdings Inc has a 52-week low of $23.27 and a 52-week high of $50.35. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.83 and a beta of 1.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.48 and a current ratio of 1.48.
Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Tuesday, January 29th. The transportation company reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.01. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.44 billion. Knight-Swift Transportation had a return on equity of 8.46% and a net margin of 7.85%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, equities research analysts predict that Knight-Swift Transportation Holdings Inc will post 2.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Monday, March 4th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, March 1st. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 9.38%.
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About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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