Wedge Capital Management L L P NC Trims Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Wedge Capital Management L L P NC trimmed its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 7.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 214,143 shares of the transportation company’s stock after selling 17,750 shares during the period. Wedge Capital Management L L P NC owned about 0.13% of Knight-Swift Transportation worth $12,345,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Knight-Swift Transportation by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock valued at $750,459,000 after acquiring an additional 54,133 shares during the period. Wellington Management Group LLP raised its stake in shares of Knight-Swift Transportation by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company’s stock valued at $680,962,000 after acquiring an additional 1,794,133 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Knight-Swift Transportation by 5.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,060,156 shares of the transportation company’s stock valued at $176,418,000 after acquiring an additional 167,691 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Knight-Swift Transportation by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,724,604 shares of the transportation company’s stock valued at $136,639,000 after acquiring an additional 132,214 shares during the period. Finally, Ceredex Value Advisors LLC raised its stake in shares of Knight-Swift Transportation by 9.7% in the 3rd quarter. Ceredex Value Advisors LLC now owns 1,822,642 shares of the transportation company’s stock valued at $91,405,000 after acquiring an additional 161,651 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Trading Up 1.2 %

Shares of NYSE KNX traded up $0.58 during midday trading on Tuesday, reaching $48.73. 107,695 shares of the stock were exchanged, compared to its average volume of 2,093,388. The company has a market capitalization of $7.87 billion, a P/E ratio of 36.21, a P/E/G ratio of 1.66 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.73 and a 52-week high of $60.99. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $54.35 and a 200-day moving average price of $54.26.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.93 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.31%. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is 48.12%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stephens dropped their price objective on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. TD Cowen dropped their price objective on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, April 18th. JPMorgan Chase & Co. dropped their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Susquehanna dropped their price objective on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Finally, Loop Capital cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and dropped their price objective for the company from $63.00 to $53.00 in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.77.

Insider Buying and Selling at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.