M&T Bank Corp Decreases Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

M&T Bank Corp cut its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 56.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,100 shares of the transportation company’s stock after selling 9,294 shares during the period. M&T Bank Corp’s holdings in Knight-Swift Transportation were worth $309,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Interval Partners LP boosted its holdings in Knight-Swift Transportation by 320.7% in the fourth quarter. Interval Partners LP now owns 1,754,822 shares of the transportation company’s stock worth $93,076,000 after acquiring an additional 1,337,727 shares in the last quarter. Norges Bank bought a new position in Knight-Swift Transportation in the fourth quarter valued at about $65,839,000. SG Americas Securities LLC increased its position in Knight-Swift Transportation by 54,434.0% in the first quarter. SG Americas Securities LLC now owns 1,103,768 shares of the transportation company’s stock worth $48,003,000 after buying an additional 1,101,744 shares in the last quarter. Junto Capital Management LP purchased a new stake in Knight-Swift Transportation in the fourth quarter worth about $34,355,000. Finally, Ceredex Value Advisors LLC grew its position in shares of Knight-Swift Transportation by 59.5% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,435,562 shares of the transportation company’s stock worth $76,142,000 after purchasing an additional 535,518 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Trading Up 1.2%

Shares of KNX opened at $45.62 on Friday. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $36.69 and a fifty-two week high of $61.51. The stock has a fifty day moving average of $44.84 and a two-hundred day moving average of $46.99. The company has a market capitalization of $7.39 billion, a PE ratio of 48.53, a price-to-earnings-growth ratio of 0.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.88 and a current ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Monday, June 9th. Knight-Swift Transportation’s dividend payout ratio is 76.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Securities dropped their price target on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their price objective on Knight-Swift Transportation from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Citigroup raised their price objective on Knight-Swift Transportation from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. UBS Group lowered their price objective on Knight-Swift Transportation from $63.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, TD Cowen lowered their price target on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.06.

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.