California State Teachers Retirement System raised its stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,350 shares of the transportation company’s stock after buying an additional 6,317 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Knight-Swift Transportation worth $9,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in KNX. Northwestern Mutual Wealth Management Co. grew its holdings in Knight-Swift Transportation by 79.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,007 shares of the transportation company’s stock valued at $131,000 after buying an additional 1,332 shares in the last quarter. Cigna Investments Inc. New purchased a new stake in Knight-Swift Transportation during the 4th quarter valued at approximately $206,000. Oakbrook Investments LLC purchased a new stake in Knight-Swift Transportation during the 4th quarter valued at approximately $210,000. Toronto Dominion Bank purchased a new stake in Knight-Swift Transportation during the 3rd quarter valued at approximately $234,000. Finally, Atria Investments LLC purchased a new position in shares of Knight-Swift Transportation in the fourth quarter valued at $254,000. 80.39% of the stock is owned by institutional investors and hedge funds.
KNX has been the subject of a number of recent research reports. KeyCorp raised their target price on shares of Knight-Swift Transportation from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Morgan Stanley initiated coverage on shares of Knight-Swift Transportation in a report on Wednesday, December 13th. They issued an “overweight” rating and a $50.00 target price for the company. Knight Equity raised shares of Knight-Swift Transportation to a “buy” rating in a report on Sunday, November 26th. Barclays raised shares of Knight-Swift Transportation from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $47.00 to $50.00 in a report on Thursday, February 1st. Finally, UBS raised their target price on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $49.60.
Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Tuesday, January 30th. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. Knight-Swift Transportation had a return on equity of 5.92% and a net margin of 12.58%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $0.29 earnings per share. Knight-Swift Transportation’s revenue was up 370.2% on a year-over-year basis. analysts anticipate that Knight-Swift Transportation Holdings Inc will post 2.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 27th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 8.35%.
Knight-Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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