Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Purchased by Truist Financial Corp

Truist Financial Corp lifted its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 665,661 shares of the transportation company’s stock after acquiring an additional 11,343 shares during the period. Truist Financial Corp owned 0.41% of Knight-Swift Transportation worth $38,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in KNX. CWM LLC boosted its stake in shares of Knight-Swift Transportation by 13.0% in the third quarter. CWM LLC now owns 3,063 shares of the transportation company’s stock worth $154,000 after acquiring an additional 352 shares during the last quarter. SG Americas Securities LLC boosted its stake in Knight-Swift Transportation by 200.8% during the third quarter. SG Americas Securities LLC now owns 28,538 shares of the transportation company’s stock worth $1,431,000 after buying an additional 19,052 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Knight-Swift Transportation by 5.0% during the third quarter. Asset Management One Co. Ltd. now owns 61,295 shares of the transportation company’s stock worth $3,074,000 after buying an additional 2,912 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Knight-Swift Transportation by 12.2% during the third quarter. Linden Thomas Advisory Services LLC now owns 13,279 shares of the transportation company’s stock worth $666,000 after buying an additional 1,445 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Knight-Swift Transportation by 25.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,000 shares of the transportation company’s stock worth $50,000 after buying an additional 200 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Susquehanna lowered their price objective on Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Loop Capital lowered Knight-Swift Transportation from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $63.00 to $53.00 in a research note on Thursday, April 18th. Robert W. Baird lowered their price objective on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday. Stephens lowered their price objective on Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Finally, TD Cowen lowered their price objective on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Hold” and a consensus price target of $57.71.

Insider Activity at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares in the company, valued at approximately $287,836.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Price Performance

KNX stock opened at $46.89 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $7.57 billion, a PE ratio of 69.99, a P/E/G ratio of 2.39 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.73 and a 12-month high of $60.99. The business’s fifty day moving average price is $53.52 and its 200 day moving average price is $54.22.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. Knight-Swift Transportation’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. On average, sell-side analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.31 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s payout ratio is currently 95.52%.

About Knight-Swift Transportation

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.