ProShare Advisors LLC Increases Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Posted by Defense World Staff on Apr 29th, 2023

ProShare Advisors LLC increased its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) by 13.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,465 shares of the transportation company’s stock after acquiring an additional 1,241 shares during the quarter. ProShare Advisors LLC’s holdings in Knight-Swift Transportation were worth $548,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in Knight-Swift Transportation by 42.4% in the 4th quarter. Fifth Third Bancorp now owns 594 shares of the transportation company’s stock worth $31,000 after acquiring an additional 177 shares during the last quarter. Intech Investment Management LLC grew its holdings in Knight-Swift Transportation by 2.5% during the 3rd quarter. Intech Investment Management LLC now owns 8,243 shares of the transportation company’s stock valued at $403,000 after buying an additional 199 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Knight-Swift Transportation by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 22,490 shares of the transportation company’s stock valued at $1,178,000 after buying an additional 205 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Knight-Swift Transportation by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 16,016 shares of the transportation company’s stock valued at $839,000 after buying an additional 206 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in Knight-Swift Transportation by 1.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 11,847 shares of the transportation company’s stock valued at $580,000 after buying an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 89.95% of the company’s stock.

Insider Buying and Selling

In related news, VP Dustin Ohlman sold 1,300 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $56.10, for a total value of $72,930.00. Following the completion of the sale, the vice president now owns 137 shares of the company’s stock, valued at $7,685.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $56.32 on Friday. The firm has a market cap of $9.06 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $42.50 and a fifty-two week high of $64.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.67 and a current ratio of 1.59. The business has a 50 day moving average price of $56.17 and a 200-day moving average price of $54.77.

Knight-Swift Transportation (NYSE:KNX – Get Rating) last released its quarterly earnings data on Thursday, April 20th. The transportation company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Knight-Swift Transportation had a net margin of 9.22% and a return on equity of 10.42%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $1.35 EPS. Equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 3.34 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 27th. Investors of record on Friday, March 3rd were paid a $0.14 dividend. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.99%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 13.59%.

Analysts Set New Price Targets

A number of research analysts have weighed in on KNX shares. Citigroup lifted their target price on Knight-Swift Transportation from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, January 11th. KeyCorp upped their price objective on shares of Knight-Swift Transportation from $60.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. Wolfe Research upgraded shares of Knight-Swift Transportation from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Wednesday, March 22nd. Stephens restated an “overweight” rating and issued a $70.00 price objective on shares of Knight-Swift Transportation in a research report on Friday, April 21st. Finally, Raymond James upped their price objective on shares of Knight-Swift Transportation from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus target price of $65.06.

Knight-Swift Transportation Profile

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Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.