Norges Bank Makes New Investment in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Norges Bank bought a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,490,580 shares of the transportation company’s stock, valued at approximately $201,232,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Knight-Swift Transportation by 0.4% during the third quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock valued at $750,459,000 after acquiring an additional 54,133 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Knight-Swift Transportation by 15.2% during the third quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company’s stock valued at $680,962,000 after acquiring an additional 1,794,133 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Knight-Swift Transportation by 908.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after acquiring an additional 3,767,408 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Knight-Swift Transportation by 5.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,060,156 shares of the transportation company’s stock valued at $176,418,000 after acquiring an additional 167,691 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Knight-Swift Transportation by 3.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,885,425 shares of the transportation company’s stock valued at $166,345,000 after acquiring an additional 89,035 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Stock Up 1.4 %

Shares of NYSE:KNX opened at $47.10 on Thursday. The company has a market capitalization of $7.61 billion, a PE ratio of 70.30, a P/E/G ratio of 1.17 and a beta of 1.03. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The firm has a 50 day simple moving average of $50.51 and a 200-day simple moving average of $54.08.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. The firm’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, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.26 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, June 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and dropped their price target for the company from $53.00 to $47.00 in a research report on Friday, April 26th. Susquehanna dropped their price objective on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Robert W. Baird dropped their price objective on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Bank of America dropped their price objective on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Raymond James started coverage on shares of Knight-Swift Transportation in a report on Wednesday, May 15th. They issued a “strong-buy” rating and a $58.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.38.

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.