Dimensional Fund Advisors LP Boosts Stake in Knight-Swift Transportation Holdings Inc. $KNX

Dimensional Fund Advisors LP grew its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,458,088 shares of the transportation company’s stock after acquiring an additional 60,750 shares during the quarter. Dimensional Fund Advisors LP owned about 5.21% of Knight-Swift Transportation worth $486,995,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Knight-Swift Transportation by 23.6% during the fourth quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock worth $675,380,000 after purchasing an additional 2,468,293 shares during the last quarter. Invesco Ltd. boosted its position in shares of Knight-Swift Transportation by 513.6% in the fourth quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock worth $126,354,000 after buying an additional 2,022,996 shares during the period. Norges Bank purchased a new position in Knight-Swift Transportation in the 4th quarter worth approximately $92,070,000. Balyasny Asset Management L.P. grew its holdings in Knight-Swift Transportation by 269.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock valued at $88,164,000 after purchasing an additional 1,627,791 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of Knight-Swift Transportation during the fourth quarter valued at about $66,151,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Down 1.4%

KNX stock opened at $75.59 on Tuesday. The company’s 50 day simple moving average is $74.79 and its 200-day simple moving average is $64.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. Knight-Swift Transportation Holdings Inc. has a 52-week low of $38.63 and a 52-week high of $82.86. The firm has a market capitalization of $12.28 billion, a P/E ratio of 359.99, a P/E/G ratio of 0.86 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. As a group, equities research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.21 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KNX shares. Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price target for the company in a research report on Tuesday, June 2nd. Robert W. Baird upped their target price on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Barclays upped their price target on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Stifel Nicolaus increased their price objective on Knight-Swift Transportation from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $80.44.

Knight-Swift Transportation Company 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.