Knight-Swift Transportation Holdings Inc. $KNX Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 43.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,966 shares of the transportation company’s stock after buying an additional 6,983 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Knight-Swift Transportation were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of KNX. Caitong International Asset Management Co. Ltd grew its holdings in shares of Knight-Swift Transportation by 1,478.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after buying an additional 828 shares in the last quarter. MMA Asset Management LLC purchased a new stake in Knight-Swift Transportation in the 3rd quarter worth approximately $41,000. Fifth Third Bancorp lifted its position in Knight-Swift Transportation by 44.4% in the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after buying an additional 267 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Knight-Swift Transportation by 54.2% in the 4th quarter. Farther Finance Advisors LLC now owns 956 shares of the transportation company’s stock worth $50,000 after buying an additional 336 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in Knight-Swift Transportation in the 3rd quarter worth approximately $99,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

KNX opened at $75.12 on Friday. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 357.73 and a beta of 1.15. Knight-Swift Transportation Holdings Inc. has a 1 year low of $38.63 and a 1 year high of $75.66. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $62.81 and a 200 day moving average price of $57.14.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the business earned $0.28 earnings per share. Knight-Swift Transportation’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.12 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 380.95%.

Analysts Set New Price Targets

A number of research firms recently issued reports on KNX. TD Cowen lifted their price objective on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Benchmark lifted their price objective on Knight-Swift Transportation from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Robert W. Baird lifted their price objective on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Barclays lifted their price objective on Knight-Swift Transportation from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Finally, Citigroup raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.71.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.