Sterling Capital Management LLC Acquires 3,309 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Sterling Capital Management LLC boosted its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 55.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,274 shares of the transportation company’s stock after acquiring an additional 3,309 shares during the period. Sterling Capital Management LLC’s holdings in Knight-Swift Transportation were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Franklin Resources Inc. bought a new stake in Knight-Swift Transportation in the 3rd quarter valued at $70,185,000. Norges Bank acquired a new position in shares of Knight-Swift Transportation in the fourth quarter valued at about $65,839,000. Victory Capital Management Inc. increased its position in Knight-Swift Transportation by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company’s stock worth $423,265,000 after acquiring an additional 506,491 shares during the period. WCM Investment Management LLC acquired a new stake in Knight-Swift Transportation in the 4th quarter worth about $16,256,000. Finally, Raymond James Financial Inc. bought a new stake in Knight-Swift Transportation in the 4th quarter valued at about $15,111,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

Shares of KNX opened at $39.37 on Friday. The business has a 50-day simple moving average of $45.90 and a two-hundred day simple moving average of $51.72. Knight-Swift Transportation Holdings Inc. has a 12-month low of $36.69 and a 12-month high of $61.51. The stock has a market cap of $6.38 billion, a PE ratio of 53.93 and a beta of 1.16. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. Analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a $0.18 dividend. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, March 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.83%. Knight-Swift Transportation’s payout ratio is currently 98.63%.

Analyst Ratings Changes

KNX has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on shares of Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. StockNews.com upgraded Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Citigroup raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $53.00 to $48.00 in a report on Tuesday, April 8th. Stifel Nicolaus cut their price objective on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Finally, Bank of America lowered shares of Knight-Swift Transportation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $66.00 to $46.00 in a report on Tuesday, April 1st. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.93.

Insider Activity at Knight-Swift Transportation

In related news, Director Douglas L. Col purchased 5,000 shares of Knight-Swift Transportation stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $45.37 per share, for a total transaction of $226,850.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $226,850. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by company insiders.

Knight-Swift Transportation Company 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 transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.