Norris Perne & French LLP MI Raises Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Norris Perne & French LLP MI grew its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 339,311 shares of the transportation company’s stock after purchasing an additional 5,408 shares during the quarter. Norris Perne & French LLP MI’s holdings in Knight-Swift Transportation were worth $18,669,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Knight-Swift Transportation during the first quarter valued at $25,000. GAMMA Investing LLC boosted its stake in shares of Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 253 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Knight-Swift Transportation by 136.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 667 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 385 shares during the period. Blue Trust Inc. boosted its stake in shares of Knight-Swift Transportation by 80.3% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 326 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in shares of Knight-Swift Transportation by 61.7% during the fourth quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 283 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KNX has been the subject of several recent research reports. Raymond James initiated coverage on Knight-Swift Transportation in a report on Wednesday, May 15th. They issued a “strong-buy” rating and a $58.00 price objective for the company. Susquehanna decreased their price objective on Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Stephens decreased their price objective on Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Loop Capital downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and decreased their price objective for the company from $63.00 to $53.00 in a report on Thursday, April 18th. Finally, Barclays decreased their price objective on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.14.

Knight-Swift Transportation Stock Up 2.6 %

Shares of KNX stock traded up $1.25 during trading hours on Friday, reaching $49.92. 3,295,836 shares of the company’s stock were exchanged, compared to its average volume of 1,778,084. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year high of $60.99. The stock has a market cap of $8.07 billion, a PE ratio of 74.52, a PEG ratio of 1.23 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average price is $48.05 and its two-hundred day moving average price is $53.16.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results 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 return on equity of 2.54% and a net margin of 1.50%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. Knight-Swift Transportation’s revenue was up 10.0% on a year-over-year basis. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.26 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.28%. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Knight-Swift Transportation Profile

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.