Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Stake Lifted by BlackRock Inc.

BlackRock Inc. increased its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNXGet Rating) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,645,263 shares of the transportation company’s stock after buying an additional 373,181 shares during the quarter. BlackRock Inc. owned about 10.02% of Knight-Swift Transportation worth $839,919,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its stake in shares of Knight-Swift Transportation by 336.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 436 shares of the transportation company’s stock worth $27,000 after purchasing an additional 336 shares in the last quarter. Steward Financial Group LLC bought a new position in shares of Knight-Swift Transportation in the first quarter worth $26,000. Quent Capital LLC bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth $36,000. Catalyst Capital Advisors LLC bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth $37,000. Finally, TCI Wealth Advisors Inc. grew its stake in shares of Knight-Swift Transportation by 263.9% in the first quarter. TCI Wealth Advisors Inc. now owns 655 shares of the transportation company’s stock worth $33,000 after purchasing an additional 475 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Stock Up 1.8 %

Shares of Knight-Swift Transportation stock opened at $49.88 on Thursday. The stock has a 50-day moving average price of $51.72 and a 200 day moving average price of $50.10. The company has a market cap of $8.01 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.61 and a beta of 1.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. Knight-Swift Transportation Holdings Inc. has a 1 year low of $42.50 and a 1 year high of $62.29.

Knight-Swift Transportation (NYSE:KNXGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.06. Knight-Swift Transportation had a return on equity of 14.44% and a net margin of 12.26%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. As a group, analysts expect that Knight-Swift Transportation Holdings Inc. will post 5.39 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, September 26th. Shareholders of record on Monday, September 5th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, September 1st. Knight-Swift Transportation’s payout ratio is currently 8.97%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays decreased their price target on Knight-Swift Transportation from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Credit Suisse Group cut their price objective on Knight-Swift Transportation to $66.00 in a report on Friday, July 22nd. Susquehanna Bancshares upped their price objective on Knight-Swift Transportation from $64.00 to $65.00 and gave the company a “positive” rating in a report on Thursday, July 21st. Wells Fargo & Company cut their price objective on Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Finally, Wolfe Research upgraded Knight-Swift Transportation from an “underperform” rating to a “peer perform” rating in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.94.

Insiders Place Their Bets

In other Knight-Swift Transportation news, EVP James E. Jr. Updike sold 2,400 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.18, for a total value of $132,432.00. Following the transaction, the executive vice president now directly owns 19,944 shares of the company’s stock, valued at approximately $1,100,509.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Knight-Swift Transportation Profile

(Get Rating)

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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