New York State Common Retirement Fund Decreases Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

New York State Common Retirement Fund cut its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 182,592 shares of the transportation company’s stock after selling 8,292 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Knight-Swift Transportation worth $7,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Knight-Swift Transportation by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company’s stock worth $370,819,000 after purchasing an additional 505,543 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Knight-Swift Transportation by 1.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,556,405 shares of the transportation company’s stock worth $188,632,000 after purchasing an additional 63,241 shares during the period. Franklin Resources Inc. increased its holdings in shares of Knight-Swift Transportation by 36.8% in the 4th quarter. Franklin Resources Inc. now owns 1,885,438 shares of the transportation company’s stock worth $100,004,000 after acquiring an additional 507,370 shares during the period. Interval Partners LP increased its holdings in shares of Knight-Swift Transportation by 320.7% in the 4th 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 during the period. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Knight-Swift Transportation by 11.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,705,095 shares of the transportation company’s stock worth $90,438,000 after acquiring an additional 179,980 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Stock Down 2.1%

Shares of NYSE:KNX opened at $44.64 on Friday. Knight-Swift Transportation Holdings Inc. has a 12 month low of $36.69 and a 12 month high of $61.51. The company’s 50-day moving average price is $44.89 and its two-hundred day moving average price is $46.89. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.30. The firm has a market cap of $7.23 billion, a P/E ratio of 47.49, a P/E/G ratio of 0.67 and a beta of 1.17.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results 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. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company posted $0.12 EPS. Knight-Swift Transportation’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Monday, June 9th were paid a dividend of $0.18 per share. The ex-dividend date was Monday, June 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.61%. Knight-Swift Transportation’s dividend payout ratio is currently 76.60%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KNX. Susquehanna increased their target price on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the company a “positive” rating in a research report on Tuesday, June 24th. Bank of America raised their price objective on shares of Knight-Swift Transportation from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Barclays decreased their target price on shares of Knight-Swift Transportation from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Robert W. Baird assumed coverage on shares of Knight-Swift Transportation in a report on Tuesday, July 1st. They issued an “outperform” rating and a $55.00 target price for the company. Finally, UBS Group decreased their target price on shares of Knight-Swift Transportation from $63.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.06.

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.