Bank of New York Mellon Corp Raises Position in Knight-Swift Transportation Holdings Inc. $KNX

Bank of New York Mellon Corp increased its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,385,655 shares of the transportation company’s stock after purchasing an additional 231,806 shares during the quarter. Bank of New York Mellon Corp’s holdings in Knight-Swift Transportation were worth $72,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp raised 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 purchasing an additional 267 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Knight-Swift Transportation by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 52,930 shares of the transportation company’s stock valued at $2,091,000 after acquiring an additional 306 shares during the period. Farther Finance Advisors LLC increased its position in shares of Knight-Swift Transportation by 54.2% in the fourth quarter. Farther Finance Advisors LLC now owns 956 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 336 shares during the period. Jones Financial Companies Lllp increased its position in shares of Knight-Swift Transportation by 2.7% in the third quarter. Jones Financial Companies Lllp now owns 13,081 shares of the transportation company’s stock valued at $519,000 after acquiring an additional 343 shares during the period. Finally, Clearstead Advisors LLC increased its position in shares of Knight-Swift Transportation by 134.6% in the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 385 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Analyst Ratings Changes

KNX has been the topic of a number of analyst reports. Benchmark boosted their price objective on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. UBS Group boosted their price objective on shares of Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price objective on the stock in a research report on Tuesday, June 2nd. TD Cowen boosted their price target on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Barclays boosted their price target on shares of Knight-Swift Transportation from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.19.

Knight-Swift Transportation Trading Down 0.3%

NYSE:KNX opened at $80.43 on Wednesday. Knight-Swift Transportation Holdings Inc. has a one year low of $38.63 and a one year high of $82.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50-day simple moving average is $66.63 and its 200 day simple moving average is $59.12. The firm has a market capitalization of $13.07 billion, a P/E ratio of 383.03, a PEG ratio of 1.03 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm earned $0.28 EPS. The company’s revenue was up 1.4% on a year-over-year basis. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.14 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Monday, June 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio is currently 380.95%.

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.