Illinois Municipal Retirement Fund Sells 31,804 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Illinois Municipal Retirement Fund trimmed its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 45.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,808 shares of the transportation company’s stock after selling 31,804 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Knight-Swift Transportation were worth $2,180,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Knight-Swift Transportation by 25.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,000 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 200 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in Knight-Swift Transportation by 2.9% during the 4th quarter. Arkadios Wealth Advisors now owns 7,215 shares of the transportation company’s stock valued at $416,000 after purchasing an additional 205 shares during the last quarter. Private Advisor Group LLC raised its holdings in Knight-Swift Transportation by 2.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,542 shares of the transportation company’s stock valued at $378,000 after acquiring an additional 207 shares during the period. Fiera Capital Corp lifted its position in Knight-Swift Transportation by 2.6% during the third quarter. Fiera Capital Corp now owns 8,725 shares of the transportation company’s stock worth $438,000 after acquiring an additional 225 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Knight-Swift Transportation by 4.6% during the third quarter. Verdence Capital Advisors LLC now owns 6,242 shares of the transportation company’s stock worth $313,000 after acquiring an additional 272 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Wall Street Analysts Forecast Growth

KNX has been the subject of several recent research reports. Susquehanna reduced their price target on Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their target price for the company from $53.00 to $47.00 in a research report on Friday. Evercore ISI dropped their price objective on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an “in-line” rating for the company in a research note on Thursday. Robert W. Baird decreased their target price on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Barclays lowered their target price on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.71.

Insider Buying and Selling

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.00% of the stock is owned by insiders.

Knight-Swift Transportation Stock Down 2.8 %

NYSE:KNX opened at $47.14 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. Knight-Swift Transportation Holdings Inc. has a one year low of $45.73 and a one year high of $60.99. The firm’s 50 day simple moving average is $53.72 and its 200 day simple moving average is $54.17. The company has a market cap of $7.61 billion, a PE ratio of 70.36, a P/E/G ratio of 2.48 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.53%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.31 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s payout ratio is 95.52%.

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.