California Public Employees Retirement System Has $58.20 Million Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

California Public Employees Retirement System lessened its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,009,486 shares of the transportation company’s stock after selling 15,932 shares during the quarter. California Public Employees Retirement System’s holdings in Knight-Swift Transportation were worth $58,197,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Knight-Swift Transportation by 0.4% during the third quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock worth $750,459,000 after buying an additional 54,133 shares during the last quarter. Wellington Management Group LLP increased its position in Knight-Swift Transportation by 15.2% during the third quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company’s stock worth $680,962,000 after buying an additional 1,794,133 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Knight-Swift Transportation by 5.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,060,156 shares of the transportation company’s stock worth $176,418,000 after buying an additional 167,691 shares during the last quarter. JPMorgan Chase & Co. increased its position in Knight-Swift Transportation by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,724,604 shares of the transportation company’s stock worth $136,639,000 after buying an additional 132,214 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its position in Knight-Swift Transportation by 9.7% during the third quarter. Ceredex Value Advisors LLC now owns 1,822,642 shares of the transportation company’s stock worth $91,405,000 after buying an additional 161,651 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KNX shares. Stifel Nicolaus downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and decreased their target price for the company from $53.00 to $47.00 in a research report on Friday. JPMorgan Chase & Co. decreased their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Bank of America decreased their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Stephens decreased their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Finally, Barclays decreased their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $57.71.

Knight-Swift Transportation Trading Down 2.8 %

Shares of KNX stock opened at $47.14 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The stock has a market cap of $7.61 billion, a P/E ratio of 70.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. The stock has a 50 day simple moving average of $53.72 and a 200 day simple moving average of $54.17. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.73 and a 1 year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 2.53% and a net margin of 1.50%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.31 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.36%. Knight-Swift Transportation’s dividend payout ratio is presently 95.52%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company’s stock.

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.