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

Cerity Partners LLC increased its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 611.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 34,074 shares of the transportation company’s stock after acquiring an additional 29,286 shares during the period. Cerity Partners LLC’s holdings in Knight-Swift Transportation were worth $1,482,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KNX. UMB Bank n.a. lifted its stake in Knight-Swift Transportation by 40.0% during the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company’s stock worth $49,000 after purchasing an additional 324 shares in the last quarter. Quarry LP lifted its stake in Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company’s stock worth $90,000 after purchasing an additional 500 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Knight-Swift Transportation by 21.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company’s stock worth $113,000 after purchasing an additional 375 shares in the last quarter. Allworth Financial LP lifted its stake in Knight-Swift Transportation by 38.6% during the first quarter. Allworth Financial LP now owns 3,044 shares of the transportation company’s stock worth $123,000 after purchasing an additional 847 shares in the last quarter. Finally, Oxford Asset Management LLP acquired a new position in Knight-Swift Transportation during the fourth quarter worth $200,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $44.51 on Tuesday. Knight-Swift Transportation Holdings Inc. has a 12 month low of $36.69 and a 12 month high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $7.21 billion, a P/E ratio of 47.35, a P/E/G ratio of 0.67 and a beta of 1.17. The company’s fifty day moving average price is $44.89 and its two-hundred day moving average price is $46.85.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. Knight-Swift Transportation’s quarterly revenue was up 1.3% on a year-over-year basis. On average, 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 company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were given a $0.18 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.62%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 76.60%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KNX shares. TD Cowen reduced their price objective on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Raymond James Financial raised their price target on Knight-Swift Transportation from $50.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 15th. TD Securities dropped their price objective on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus dropped their price objective on Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Finally, Barclays lowered their price target on Knight-Swift Transportation from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.