Envestnet Asset Management Inc. Reduces Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Envestnet Asset Management Inc. cut its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,789 shares of the transportation company’s stock after selling 9,291 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Knight-Swift Transportation worth $4,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KNX. UMB Bank n.a. grew its holdings in shares of 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 buying an additional 324 shares in the last quarter. Quarry LP lifted its position in Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company’s stock valued at $90,000 after buying an additional 500 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of 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. Oxford Asset Management LLP acquired a new position in shares of Knight-Swift Transportation during the fourth quarter worth $200,000. Finally, Bessemer Group Inc. lifted its position in shares of Knight-Swift Transportation by 6.1% during the fourth quarter. Bessemer Group Inc. now owns 3,882 shares of the transportation company’s stock worth $206,000 after purchasing an additional 222 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Price Performance

NYSE KNX opened at $45.63 on Friday. The stock’s 50-day moving average price is $44.82 and its two-hundred day moving average price is $46.70. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30. The company has a market cap of $7.39 billion, a PE ratio of 44.73, a PEG ratio of 0.68 and a beta of 1.17. Knight-Swift Transportation Holdings Inc. has a 1 year low of $36.69 and a 1 year high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.87 billion. Knight-Swift Transportation had a return on equity of 3.03% and a net margin of 2.22%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS. On average, analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

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

Analysts Set New Price Targets

KNX has been the subject of a number of research analyst reports. Robert W. Baird began coverage on shares of Knight-Swift Transportation in a research note on Tuesday, July 1st. They issued an “outperform” rating and a $55.00 price target for the company. Citigroup upped their price target on shares of Knight-Swift Transportation from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. TD Securities reduced their price objective on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Raymond James Financial upped their price target on shares of Knight-Swift Transportation from $50.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 15th. Five 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 company’s stock. According to MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and an average target price of $53.56.

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.