Thrivent Financial for Lutherans Has $5.55 Million Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Posted by Defense World Staff on May 14th, 2023

Thrivent Financial for Lutherans lifted its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,882 shares of the transportation company’s stock after acquiring an additional 4,310 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Knight-Swift Transportation worth $5,550,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Kistler Tiffany Companies LLC bought a new stake in Knight-Swift Transportation during the 3rd quarter worth approximately $26,000. Fifth Third Bancorp increased its stake in Knight-Swift Transportation by 42.4% during the 4th quarter. Fifth Third Bancorp now owns 594 shares of the transportation company’s stock worth $31,000 after purchasing an additional 177 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Knight-Swift Transportation by 543.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock worth $47,000 after purchasing an additional 793 shares in the last quarter. Ronald Blue Trust Inc. increased its stake in Knight-Swift Transportation by 159.2% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,488 shares of the transportation company’s stock worth $72,000 after purchasing an additional 914 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its stake in shares of Knight-Swift Transportation by 46.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,502 shares of the transportation company’s stock worth $79,000 after acquiring an additional 476 shares in the last quarter. 89.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 64,139 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $56.59, for a total value of $3,629,626.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Timothy Sean Harrington sold 1,700 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $56.98, for a total transaction of $96,866.00. Following the transaction, the executive vice president now owns 4,582 shares of the company’s stock, valued at approximately $261,082.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 64,139 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $56.59, for a total value of $3,629,626.01. The disclosure for this sale can be found here. Insiders sold 67,139 shares of company stock worth $3,799,422 in the last quarter. 3.10% of the stock is currently owned by company insiders.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $57.28 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.19. Knight-Swift Transportation Holdings Inc. has a twelve month low of $42.50 and a twelve month high of $64.35. The stock’s 50 day moving average is $55.93 and its 200-day moving average is $55.48. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.15 and a beta of 1.15.

Knight-Swift Transportation (NYSE:KNX – Get Rating) last issued its earnings results 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). Knight-Swift Transportation had a return on equity of 10.42% and a net margin of 9.22%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $1.35 earnings per share. Knight-Swift Transportation’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 3.32 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 27th. Shareholders of record on Friday, June 9th will be paid a $0.14 dividend. The ex-dividend date is Thursday, June 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.98%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 13.59%.

Analyst Ratings Changes

Several equities analysts recently weighed in on KNX shares. StockNews.com started coverage on shares of Knight-Swift Transportation in a research note on Thursday, March 16th. They issued a “hold” rating for the company. KeyCorp lifted their target price on Knight-Swift Transportation from $60.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Stephens reissued an “overweight” rating and set a $70.00 target price on shares of Knight-Swift Transportation in a report on Friday, April 21st. Susquehanna raised their price target on Knight-Swift Transportation from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, April 21st. Finally, Raymond James raised their price target on 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 analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.06.

About Knight-Swift Transportation

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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.