State Board of Administration of Florida Retirement System Boosts Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

State Board of Administration of Florida Retirement System grew its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNXFree Report) by 37.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 205,365 shares of the transportation company’s stock after acquiring an additional 55,613 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Knight-Swift Transportation were worth $10,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Financial Group LLC bought a new position in shares of Knight-Swift Transportation in the second quarter worth approximately $27,000. DecisionPoint Financial LLC bought a new position in shares of Knight-Swift Transportation in the second quarter worth approximately $36,000. FinTrust Capital Advisors LLC bought a new position in shares of Knight-Swift Transportation in the third quarter worth approximately $42,000. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in shares of Knight-Swift Transportation in the second quarter worth approximately $44,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of Knight-Swift Transportation by 543.2% in the first quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock worth $47,000 after purchasing an additional 793 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $60.24 on Tuesday. The firm has a market cap of $9.72 billion, a PE ratio of 45.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.73 and a fifty-two week high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 0.94. The business has a 50 day moving average price of $57.30 and a 200-day moving average price of $54.38.

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Friday, March 8th will be paid a $0.16 dividend. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.06%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KNX shares. Stifel Nicolaus upped their price objective on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Morgan Stanley upped their target price on Knight-Swift Transportation from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 20th. TheStreet raised Knight-Swift Transportation from a “c+” rating to a “b-” rating in a research note on Monday, December 4th. Susquehanna upped their target price on Knight-Swift Transportation from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Finally, TD Cowen upped their target price on Knight-Swift Transportation from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Read Our Latest Stock Report on KNX

Insider Buying and Selling

In related news, EVP James L. Fitzsimmons sold 2,664 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $53.73, for a total value of $143,136.72. Following the completion of the sale, the executive vice president now owns 4,632 shares of the company’s stock, valued at $248,877.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP James L. Fitzsimmons sold 2,664 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $53.73, for a total value of $143,136.72. Following the completion of the sale, the executive vice president now owns 4,632 shares of the company’s stock, valued at $248,877.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Sean Harrington sold 1,200 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $52.00, for a total value of $62,400.00. Following the completion of the sale, the executive vice president now directly owns 5,278 shares of the company’s stock, valued at approximately $274,456. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

About Knight-Swift Transportation

(Free Report)

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.

See Also

Want to see what other hedge funds are holding KNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knight-Swift Transportation Holdings Inc. (NYSE:KNXFree Report).

Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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