Peregrine Capital Management LLC Reduces Stock Holdings in Knight-Swift Transportation Holdings Inc. $KNX

Peregrine Capital Management LLC lowered its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 4.0% during the first quarter, Holdings Channel reports. The firm owned 157,326 shares of the transportation company’s stock after selling 6,474 shares during the period. Peregrine Capital Management LLC’s holdings in Knight-Swift Transportation were worth $9,059,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. raised its stake in Knight-Swift Transportation by 123.9% during the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after acquiring an additional 301 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Knight-Swift Transportation by 134.6% in the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 385 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Knight-Swift Transportation by 1,478.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock worth $35,000 after purchasing an additional 828 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Knight-Swift Transportation during the fourth quarter worth about $39,000. Finally, Fifth Third Bancorp increased its position in shares of Knight-Swift Transportation by 44.4% during the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on KNX. UBS Group upped their target price on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Evercore upgraded Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Friday, March 27th. Weiss Ratings upgraded shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 15th. Stifel Nicolaus lifted their target price on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group increased their price target on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.53.

Knight-Swift Transportation Stock Down 0.4%

Knight-Swift Transportation stock opened at $77.90 on Wednesday. The stock has a 50 day moving average of $71.59 and a two-hundred day moving average of $62.21. Knight-Swift Transportation Holdings Inc. has a twelve month low of $38.63 and a twelve month high of $82.86. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 370.97, a PEG ratio of 1.00 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company earned $0.28 EPS. Knight-Swift Transportation’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.14 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Knight-Swift Transportation’s dividend payout ratio is presently 380.95%.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.