Teachers Retirement System of The State of Kentucky bought a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) during the third quarter, Holdings Channel.com reports. The fund bought 113,348 shares of the transportation company’s stock, valued at approximately $5,547,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNX. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Knight-Swift Transportation by 2,902.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,157,323 shares of the transportation company’s stock worth $56,628,000 after purchasing an additional 1,118,771 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Knight-Swift Transportation by 13.4% during the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock worth $414,739,000 after purchasing an additional 972,139 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Knight-Swift Transportation by 94.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock worth $85,249,000 after purchasing an additional 892,933 shares in the last quarter. Triton Wealth Management PLLC grew its holdings in shares of Knight-Swift Transportation by 167.8% during the 3rd quarter. Triton Wealth Management PLLC now owns 1,213,512 shares of the transportation company’s stock worth $61,331,000 after purchasing an additional 760,288 shares in the last quarter. Finally, Electron Capital Partners LLC grew its holdings in shares of Knight-Swift Transportation by 77.8% during the 3rd quarter. Electron Capital Partners LLC now owns 1,655,634 shares of the transportation company’s stock worth $81,010,000 after purchasing an additional 724,220 shares in the last quarter. Institutional investors and hedge funds own 89.95% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on KNX. Wells Fargo & Company lifted their price objective on Knight-Swift Transportation from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. JPMorgan Chase & Co. cut their target price on Knight-Swift Transportation from $51.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, January 27th. StockNews.com initiated coverage on Knight-Swift Transportation in a research report on Thursday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their target price on Knight-Swift Transportation from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, November 28th. Finally, Stifel Nicolaus raised their target price on Knight-Swift Transportation from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, January 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and an average target price of $63.65.
Knight-Swift Transportation Trading Down 2.4 %
Knight-Swift Transportation (NYSE:KNX – Get Rating) last released its earnings results on Thursday, January 26th. The transportation company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13). The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.80 billion. Knight-Swift Transportation had a return on equity of 12.17% and a net margin of 10.38%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. Analysts predict that Knight-Swift Transportation Holdings Inc. will post 4.04 EPS for the current fiscal year.
Knight-Swift Transportation Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Friday, March 3rd will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, March 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.12. Knight-Swift Transportation’s payout ratio is presently 11.84%.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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