Mackenzie Financial Corp acquired a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 51,053 shares of the transportation company’s stock, valued at approximately $2,889,000.
Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in Knight-Swift Transportation by 42.4% during the 4th quarter. Fifth Third Bancorp now owns 594 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 177 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Knight-Swift Transportation by 543.2% in the 1st quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 793 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in Knight-Swift Transportation in the 4th quarter valued at about $55,000. Ronald Blue Trust Inc. boosted its holdings in Knight-Swift Transportation by 159.2% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,488 shares of the transportation company’s stock valued at $72,000 after purchasing an additional 914 shares during the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in Knight-Swift Transportation by 46.4% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,502 shares of the transportation company’s stock valued at $79,000 after purchasing an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.
Insider Activity
In other news, SVP Dustin Ohlman sold 1,296 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $56.91, for a total value of $73,755.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Kevin P. Knight sold 64,139 shares of Knight-Swift Transportation stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $56.59, for a total transaction of $3,629,626.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Dustin Ohlman sold 1,296 shares of Knight-Swift Transportation stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $56.91, for a total transaction of $73,755.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,516 shares of company stock worth $4,047,808. 3.10% of the stock is currently owned by corporate insiders.
Knight-Swift Transportation Trading Down 1.2 %
Shares of NYSE:KNX opened at $54.96 on Friday. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.63 and a 52 week high of $64.35. The company’s 50 day moving average is $55.61 and its two-hundred day moving average is $56.30. The company has a market cap of $8.85 billion, a PE ratio of 13.34, a P/E/G ratio of 1.25 and a beta of 1.13. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last announced its quarterly earnings data on Thursday, April 20th. The transportation company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). Knight-Swift Transportation had a net margin of 9.22% and a return on equity of 10.42%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business posted $1.35 earnings per share. Knight-Swift Transportation’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.96 earnings per share for the current fiscal year.
Knight-Swift Transportation Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 27th. Stockholders of record on Friday, June 9th were issued a $0.14 dividend. The ex-dividend date was Thursday, June 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.02%. Knight-Swift Transportation’s payout ratio is 13.59%.
Analyst Ratings Changes
Several research firms have weighed in on KNX. Wolfe Research upgraded shares of Knight-Swift Transportation from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Wednesday, March 22nd. Stephens reiterated an “overweight” rating and issued a $70.00 target price on shares of Knight-Swift Transportation in a report on Friday, April 21st. TD Cowen decreased their price objective on shares of Knight-Swift Transportation from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, April 21st. StockNews.com assumed coverage on shares of Knight-Swift Transportation in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Citigroup decreased their price objective on shares of Knight-Swift Transportation from $66.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.
Knight-Swift Transportation Profile
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 transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
Further Reading
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