Knight-Swift Transportation Holdings Inc. $KNX Shares Sold by Triton Wealth Management PLLC

Triton Wealth Management PLLC trimmed its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 90.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 49,338 shares of the transportation company’s stock after selling 481,779 shares during the quarter. Knight-Swift Transportation comprises approximately 1.0% of Triton Wealth Management PLLC’s investment portfolio, making the stock its 20th biggest holding. Triton Wealth Management PLLC’s holdings in Knight-Swift Transportation were worth $2,579,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in Knight-Swift Transportation by 0.9% in the third quarter. Victory Capital Management Inc. now owns 8,496,137 shares of the transportation company’s stock worth $335,682,000 after purchasing an additional 76,342 shares during the period. Dimensional Fund Advisors LP lifted its position in Knight-Swift Transportation by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 8,267,687 shares of the transportation company’s stock worth $326,664,000 after purchasing an additional 124,426 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Knight-Swift Transportation by 7.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,676,422 shares of the transportation company’s stock worth $244,250,000 after purchasing an additional 315,192 shares during the period. UBS Group AG lifted its position in Knight-Swift Transportation by 44.3% in the fourth quarter. UBS Group AG now owns 2,430,896 shares of the transportation company’s stock worth $127,087,000 after purchasing an additional 745,787 shares during the period. Finally, Junto Capital Management LP lifted its position in Knight-Swift Transportation by 252.4% in the third quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock worth $89,377,000 after purchasing an additional 1,620,224 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $68.09 on Friday. The company’s fifty day moving average is $59.83 and its two-hundred day moving average is $55.28. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. Knight-Swift Transportation Holdings Inc. has a 12-month low of $38.63 and a 12-month high of $68.36. The company has a market cap of $11.06 billion, a P/E ratio of 324.27 and a beta of 1.15.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm earned $0.28 earnings per share. Knight-Swift Transportation’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.09 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 8th. Knight-Swift Transportation’s payout ratio is 380.95%.

Insider Buying and Selling at Knight-Swift Transportation

In other news, CFO Joshua Smith sold 5,770 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $60.91, for a total transaction of $351,450.70. Following the transaction, the chief financial officer directly owned 9,214 shares in the company, valued at $561,224.74. The trade was a 38.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Kevin P. Knight sold 30,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $61.00, for a total transaction of $1,830,000.00. Following the transaction, the chairman owned 1,305,347 shares in the company, valued at approximately $79,626,167. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on KNX. Evercore upgraded Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Friday, March 27th. Stephens cut their target price on Knight-Swift Transportation from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Barclays upped their price target on Knight-Swift Transportation from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. TD Cowen upped their price target on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Citigroup raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.71.

Knight-Swift Transportation Company Profile

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.