Wealth Enhancement Advisory Services LLC Invests $240,000 in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Wealth Enhancement Advisory Services LLC purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,524 shares of the transportation company’s stock, valued at approximately $240,000.

Several other hedge funds have also recently modified their holdings of KNX. Rhumbline Advisers boosted its stake in shares of Knight-Swift Transportation by 2.0% in the fourth quarter. Rhumbline Advisers now owns 471,677 shares of the transportation company’s stock worth $25,018,000 after acquiring an additional 9,396 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Knight-Swift Transportation in the fourth quarter worth approximately $1,796,000. Allworth Financial LP grew its stake in Knight-Swift Transportation by 28.7% in the fourth quarter. Allworth Financial LP now owns 2,197 shares of the transportation company’s stock worth $121,000 after purchasing an additional 490 shares in the last quarter. Principal Financial Group Inc. boosted its position in Knight-Swift Transportation by 42.9% during the 4th quarter. Principal Financial Group Inc. now owns 933,359 shares of the transportation company’s stock valued at $49,505,000 after acquiring an additional 280,121 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Knight-Swift Transportation by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,924 shares of the transportation company’s stock valued at $261,000 after acquiring an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $43.33 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $42.43 and a 200 day moving average price of $48.38. The company has a market cap of $7.02 billion, a P/E ratio of 59.36 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a 12 month low of $36.69 and a 12 month high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Knight-Swift Transportation’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.66%. Knight-Swift Transportation’s payout ratio is currently 76.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stifel Nicolaus reduced their target price on Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $65.00 in a report on Monday, June 2nd. Barclays lowered their target price on Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. UBS Group cut their target price on Knight-Swift Transportation from $63.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Knight-Swift Transportation from $49.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.67.

Knight-Swift Transportation Company 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.