SG Americas Securities LLC Decreases Holdings in Knight-Swift Transportation Holdings Inc. $KNX

SG Americas Securities LLC trimmed its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 79.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,346 shares of the transportation company’s stock after selling 78,732 shares during the period. SG Americas Securities LLC’s holdings in Knight-Swift Transportation were worth $1,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KNX. Wellington Management Group LLP grew its position in Knight-Swift Transportation by 23.6% during the fourth quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock valued at $675,380,000 after buying an additional 2,468,293 shares during the period. Invesco Ltd. raised its position in Knight-Swift Transportation by 513.6% in the fourth quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock worth $126,354,000 after acquiring an additional 2,022,996 shares during the period. Norges Bank purchased a new position in Knight-Swift Transportation in the fourth quarter valued at about $92,070,000. Balyasny Asset Management L.P. boosted its stake in Knight-Swift Transportation by 269.7% in the third quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock valued at $88,164,000 after acquiring an additional 1,627,791 shares during the last quarter. Finally, Junto Capital Management LP grew its position in shares of Knight-Swift Transportation by 252.4% during the 3rd quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock valued at $89,377,000 after acquiring an additional 1,620,224 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KNX has been the subject of several research analyst reports. Evercore upgraded shares of Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Friday, March 27th. Citigroup downgraded Knight-Swift Transportation from a “buy” rating to a “neutral” rating and upped their price objective for the company from $72.00 to $90.00 in a research note on Monday, June 15th. Stifel Nicolaus increased their price objective on Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price on the stock in a research note on Tuesday, June 2nd. Finally, Raymond James Financial boosted their target price on Knight-Swift Transportation from $76.00 to $91.00 and gave the company a “strong-buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.41.

Knight-Swift Transportation Stock Up 0.0%

Knight-Swift Transportation stock opened at $76.36 on Friday. The firm has a 50 day simple moving average of $72.30 and a 200 day simple moving average of $62.65. 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 Holdings Inc. has a 1-year low of $38.63 and a 1-year high of $82.86. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 363.62, a P/E/G ratio of 0.97 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last posted 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). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.14 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

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

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.