Fifth Third Bancorp Has $7.21 Million Stock Position in Knight-Swift Transportation Holdings Inc. $KNX

Fifth Third Bancorp raised its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 14,328.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,235 shares of the transportation company’s stock after buying an additional 124,367 shares during the quarter. Fifth Third Bancorp owned about 0.08% of Knight-Swift Transportation worth $7,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its holdings in shares of Knight-Swift Transportation by 23.3% during the first quarter. Integrated Wealth Concepts LLC now owns 5,948 shares of the transportation company’s stock worth $259,000 after acquiring an additional 1,124 shares during the period. Focus Partners Wealth acquired a new position in Knight-Swift Transportation in the 1st quarter worth $451,000. Cetera Investment Advisers increased its holdings in Knight-Swift Transportation by 6.9% during the 2nd quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company’s stock worth $607,000 after purchasing an additional 882 shares in the last quarter. Invesco Ltd. increased its holdings in Knight-Swift Transportation by 57.7% during the 2nd quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company’s stock worth $48,110,000 after purchasing an additional 398,116 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Knight-Swift Transportation by 54.3% in the 2nd quarter. First Trust Advisors LP now owns 491,702 shares of the transportation company’s stock valued at $21,748,000 after purchasing an additional 172,956 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Trading Up 4.9%

Shares of NYSE:KNX opened at $77.19 on Friday. The company’s 50-day moving average price is $74.27 and its two-hundred day moving average price is $64.11. Knight-Swift Transportation Holdings Inc. has a one year low of $38.63 and a one year high of $82.86. 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 stock has a market capitalization of $12.54 billion, a PE ratio of 367.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data 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). The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. Knight-Swift Transportation’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. On average, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.21 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio is presently 380.95%.

Analysts Set New Price Targets

A number of brokerages have recently commented on KNX. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price target on the stock in a report on Tuesday, June 2nd. 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. UBS Group lifted their target price on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, June 1st. TD Cowen boosted their target price on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group upped their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of “Buy” and an average price target of $80.44.

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.