Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 39.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,475 shares of the transportation company’s stock after acquiring an additional 40,782 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Knight-Swift Transportation worth $7,610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock valued at $71,000 after purchasing an additional 208 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Knight-Swift Transportation by 20.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 213 shares during the last quarter. MML Investors Services LLC lifted its stake in Knight-Swift Transportation by 4.6% during the third quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company’s stock valued at $280,000 after purchasing an additional 228 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Knight-Swift Transportation by 4.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 5,301 shares of the transportation company’s stock valued at $281,000 after purchasing an additional 235 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Knight-Swift Transportation by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,924 shares of the transportation company’s stock valued at $261,000 after purchasing an additional 252 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Benchmark began coverage on shares of Knight-Swift Transportation in a research note on Tuesday, March 4th. They set a “buy” rating and a $63.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. StockNews.com raised 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 “sell” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Monday. Finally, TD Cowen raised their price objective on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.41.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $45.63 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 62.51 and a beta of 0.97. The business’s 50-day simple moving average is $53.27 and its 200-day simple moving average is $53.64. Knight-Swift Transportation Holdings Inc. has a 52 week low of $44.95 and a 52 week high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. As a group, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.18 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s dividend payout ratio (DPR) is 98.63%.

About Knight-Swift Transportation

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.