Federated Hermes Inc. Has $13.53 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Federated Hermes Inc. reduced its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 22.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 234,689 shares of the transportation company’s stock after selling 68,102 shares during the quarter. Federated Hermes Inc. owned approximately 0.15% of Knight-Swift Transportation worth $13,530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KNX. CWM LLC lifted its holdings in shares of Knight-Swift Transportation by 13.0% during the third quarter. CWM LLC now owns 3,063 shares of the transportation company’s stock worth $154,000 after buying an additional 352 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of Knight-Swift Transportation by 3.4% during the third quarter. AE Wealth Management LLC now owns 23,325 shares of the transportation company’s stock worth $1,170,000 after buying an additional 769 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Knight-Swift Transportation by 23.8% in the third quarter. DnB Asset Management AS now owns 38,108 shares of the transportation company’s stock valued at $1,911,000 after purchasing an additional 7,319 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Knight-Swift Transportation by 200.8% in the third quarter. SG Americas Securities LLC now owns 28,538 shares of the transportation company’s stock valued at $1,431,000 after purchasing an additional 19,052 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Knight-Swift Transportation by 10.0% in the third quarter. GHP Investment Advisors Inc. now owns 31,959 shares of the transportation company’s stock valued at $1,529,000 after purchasing an additional 2,905 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Price Performance

Shares of KNX stock opened at $48.16 on Tuesday. The stock’s fifty day moving average is $54.35 and its 200-day moving average is $54.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $7.78 billion, a PE ratio of 36.21, a PEG 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.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.38). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. Equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.93 EPS for the current fiscal 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 paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio is 48.12%.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts recently commented on KNX shares. Barclays cut their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. JPMorgan Chase & Co. cut their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. TD Cowen cut their target price on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Loop Capital lowered Knight-Swift Transportation from a “buy” rating to a “hold” rating and cut their target price for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. Finally, Stifel Nicolaus lowered their price target on Knight-Swift Transportation from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus target price of $57.77.

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.