IMA Wealth Inc. bought a new position in the shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) in the third quarter, according to its latest filing with the Securities and Exchange Commission (SEC). . Institutional investors purchased 77,831 shares of the shipping company’s stock valued at approximately $3,808,000. Knight-Swift Transportation accounts for approximately 1.0% of IMA Wealth Inc.’s investment portfolio and is the 23rd largest shareholder.
A number of other institutional investors and hedge funds have also recently bought and sold shares in KNX. Ronald Blue Trust Inc. increased his stake in Knight-Swift Transportation by 267.9% in the third quarter. Ronald Blue Trust Inc. now owns 574 shares of the shipping company worth $26,000 after purchasing an additional 418 shares during this period. Kistler Tiffany Companies LLC purchased new shares of Knight-Swift Transportation in the third quarter for approximately $26,000. Eagle Bay Advisors LLC increased its stake in Knight-Swift Transportation by 87.2% in the second quarter. Eagle Bay Advisors LLC owns 979 shares of the carrier stock valued at $45,000 after purchasing an additional 456 shares during this period. Brown Brothers Harriman & Co. increased its stake in Knight-Swift Transportation by 543.2% in the first quarter. Brown Brothers Harriman & Co. now owns 939 shares of the shipping company worth $47,000 after purchasing an additional 793 shares during this period. Finally, SeaCrest Wealth Management LLC purchased new Knight-Swift Transportation stock worth approximately $83,000 in the second quarter. 89.95% of the shares are currently owned by hedge funds and other institutional investors.
Knight-Swift Transportation stock performance
KNX shares climbed $0.11 during Friday’s trading hours to reach $57.18. The stock traded 330,734 shares with an average turnover of 1,747,742 shares. The company has a market capitalization of $9.2 billion, a PE ratio of 12.07, a PEG ratio of 0.97 and a beta of 1.17. Knight-Swift Transportation Holdings Inc. has a 12-month low of $42.50 and a 12-month high of $64.35. The stock has a 50-day moving average of $57.74 and a 200-day moving average of $53.53. The company has a debt to equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.67.
Knight-Swift Transportation (NYSE:KNX – Get Rating) last reported quarterly earnings data on Thursday, January 26. The transportation company reported earnings per share of $1.00 for the quarter, well below consensus expectations of $1.13 ($0.13). Knight-Swift Transportation had a net profit margin of 10.38% and a return on equity of 12.17%. The company made $1.74 billion in revenue for the quarter, compared with analyst estimates of $1.80 billion. His earnings per share for the company in the same period last year were $1.61. Knight-Swift Transportation revenues decreased 4.0% compared to the same period last year. As a group, research analysts expect Knight-Swift Transportation Holdings Inc. to post earnings per share of 4.04 for the current financial year.
Knight-Swift Transportation Increases Dividend
The business also recently announced a quarterly dividend payable on Monday, March 27th. Dividends of $0.14 per share will be issued to investors of record on Friday, March 3. The ex-dividend date is Thursday, March 2nd. This is up from Knight-Swift Transportation’s previous quarterly dividend of $0.12. This represents an annualized dividend of $0.56 and a dividend yield of 0.98%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 11.84%.
Wall Street Analyst Predicts Growth
KNX has been the topic of many recent research reports. Stephens raised Knight-Swift Transportation’s price target from his $65.00 to his $75.00, giving it an “overweight” rating in a research note on Friday, Jan. 27. Susquehanna downgraded Knight-Swift Transportation’s stock from ‘positive’ to ‘neutral’ and lowered the company’s price target from $63.00 to $60.00 in its research notes on Monday, January 9. Raymond James raised his price target for Knight-Swift Transportation from his $53.00 to his $63.00, giving it an “outperform” rating in its research notes on Friday, Jan. 20. KeyCorp raised its price target for Knight-Swift Transportation from $60.00 to $67.00, giving the company an “overweight” rating in its research notes on Friday, Jan. 27. Finally, Citigroup raised its price target for Knight-Swift Transportation from $50.00 to $58.00, giving the company a “neutral” rating in its research notes on Wednesday, Jan. 11. One investment analyst gave the stock a sell rating, four gave a hold rating, and 13 assigned a buy rating to the stock. Based on MarketBeat data, the stock has a consensus rating of “Moderate Buy” with an average target price of $63.65.
Knight-Swift transport profile
Knight-Swift Transportation Holdings, Inc. is engaged in providing multiple trucking and logistics services. It operates through its Trucking, Logistics, and Intermodal business segments. The trucking segment consists of irregular routes and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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