Cerity Partners LLC Boosts Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Cerity Partners LLC lifted its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 611.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,074 shares of the transportation company’s stock after acquiring an additional 29,286 shares during the quarter. Cerity Partners LLC’s holdings in Knight-Swift Transportation were worth $1,482,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. UMB Bank n.a. raised its holdings in Knight-Swift Transportation by 40.0% in the 1st quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 324 shares during the last quarter. Quarry LP raised its holdings in Knight-Swift Transportation by 41.6% in the 4th quarter. Quarry LP now owns 1,701 shares of the transportation company’s stock valued at $90,000 after acquiring an additional 500 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Knight-Swift Transportation by 21.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company’s stock valued at $113,000 after acquiring an additional 375 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Knight-Swift Transportation by 38.6% during the 1st quarter. Allworth Financial LP now owns 3,044 shares of the transportation company’s stock worth $123,000 after buying an additional 847 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new stake in shares of Knight-Swift Transportation during the 4th quarter worth approximately $200,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $44.51 on Tuesday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 0.67 and a beta of 1.17. The company has a 50-day moving average of $44.89 and a 200-day moving average of $46.85. Knight-Swift Transportation Holdings Inc. has a 52 week low of $36.69 and a 52 week high of $61.51. 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 announced its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.79% and a net margin of 2.04%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. As a group, equities research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were issued a $0.18 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.62%. Knight-Swift Transportation’s dividend payout ratio is presently 76.60%.

Wall Street Analyst Weigh In

Several brokerages recently commented on KNX. Wells Fargo & Company lifted their price target on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 28th. Robert W. Baird initiated coverage on shares of Knight-Swift Transportation in a research note on Tuesday, July 1st. They set an “outperform” rating and a $55.00 price target on the stock. Baird R W raised shares of Knight-Swift Transportation to a “strong-buy” rating in a research report on Tuesday, July 1st. The Goldman Sachs Group raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and increased their price target for the company from $45.00 to $65.00 in a report on Monday, June 2nd. Finally, Susquehanna lifted their price target on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the stock a “positive” rating in a research note on Tuesday, June 24th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.