abrdn plc Has $1.72 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

abrdn plc cut its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNXGet Rating) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,870 shares of the transportation company’s stock after selling 1,378 shares during the quarter. abrdn plc’s holdings in Knight-Swift Transportation were worth $1,722,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc increased its holdings in shares of Knight-Swift Transportation by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 6,873 shares of the transportation company’s stock worth $419,000 after acquiring an additional 231 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Knight-Swift Transportation by 1.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,400 shares of the transportation company’s stock valued at $1,182,000 after purchasing an additional 234 shares during the period. Highland Capital Management LLC boosted its stake in Knight-Swift Transportation by 0.7% in the 1st quarter. Highland Capital Management LLC now owns 44,864 shares of the transportation company’s stock valued at $2,264,000 after purchasing an additional 290 shares during the period. Parkside Financial Bank & Trust boosted its stake in Knight-Swift Transportation by 336.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 436 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 336 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Knight-Swift Transportation by 6.7% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,661 shares of the transportation company’s stock valued at $344,000 after purchasing an additional 355 shares during the period. 86.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KNX. Wolfe Research upgraded Knight-Swift Transportation from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, July 12th. Susquehanna Bancshares upped their target price on Knight-Swift Transportation from $64.00 to $65.00 and gave the company a “positive” rating in a research report on Thursday, July 21st. Barclays cut their target price on Knight-Swift Transportation from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. JPMorgan Chase & Co. cut their target price on Knight-Swift Transportation from $54.00 to $52.00 and set an “underweight” rating for the company in a research report on Friday, April 8th. Finally, Wells Fargo & Company cut their target price on Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.94.

Knight-Swift Transportation Price Performance

Shares of KNX opened at $53.70 on Tuesday. Knight-Swift Transportation Holdings Inc. has a 12-month low of $42.50 and a 12-month high of $62.29. The business has a 50-day simple moving average of $48.17 and a two-hundred day simple moving average of $50.44. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 0.22. The stock has a market cap of $8.78 billion, a PE ratio of 10.04, a PEG ratio of 0.68 and a beta of 1.24.

Knight-Swift Transportation (NYSE:KNXGet Rating) last issued its earnings results on Wednesday, July 20th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. Knight-Swift Transportation had a return on equity of 14.44% and a net margin of 12.26%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. Analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 5.39 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Monday, September 5th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.48 annualized dividend and a dividend yield of 0.89%. Knight-Swift Transportation’s payout ratio is 8.97%.

Insider Activity

In other news, EVP James E. Jr. Updike sold 2,400 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.18, for a total value of $132,432.00. Following the completion of the sale, the executive vice president now owns 19,944 shares of the company’s stock, valued at $1,100,509.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.10% of the company’s stock.

About Knight-Swift Transportation

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Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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