Knight-Swift Transportation Holdings Inc. $KNX Holdings Lowered by Aviance Capital Partners LLC

Aviance Capital Partners LLC decreased its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 19.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,199 shares of the transportation company’s stock after selling 14,888 shares during the quarter. Aviance Capital Partners LLC’s holdings in Knight-Swift Transportation were worth $3,581,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KNX. Wellington Management Group LLP increased its position in shares of Knight-Swift Transportation by 23.6% in the fourth quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock worth $675,380,000 after acquiring an additional 2,468,293 shares in the last quarter. Invesco Ltd. raised its stake in Knight-Swift Transportation by 513.6% during the 4th quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock valued at $126,354,000 after purchasing an additional 2,022,996 shares during the period. Norges Bank acquired a new stake in Knight-Swift Transportation during the 4th quarter valued at $92,070,000. Balyasny Asset Management L.P. raised its stake in Knight-Swift Transportation by 269.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock valued at $88,164,000 after purchasing an additional 1,627,791 shares during the period. Finally, Pzena Investment Management LLC purchased a new stake in shares of Knight-Swift Transportation in the fourth quarter valued at $66,151,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $76.61 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. Knight-Swift Transportation Holdings Inc. has a one year low of $38.63 and a one year high of $82.86. The business’s 50-day moving average price is $74.52 and its two-hundred day moving average price is $64.20. The company has a market capitalization of $12.45 billion, a P/E ratio of 364.83, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the business earned $0.28 earnings per share. Analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.21 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 380.95%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KNX. Citigroup raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Thursday, July 9th. Zacks Research raised Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Raymond James Financial increased their price objective on Knight-Swift Transportation from $76.00 to $91.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price objective on Knight-Swift Transportation from $65.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. lifted their target price on Knight-Swift Transportation from $70.00 to $77.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $80.44.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.