State of New Jersey Common Pension Fund D decreased its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,793 shares of the transportation company’s stock after selling 3,720 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Knight-Swift Transportation were worth $4,515,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp raised its position in shares of Knight-Swift Transportation by 42.4% in the fourth quarter. Fifth Third Bancorp now owns 594 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 177 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Knight-Swift Transportation by 8.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock worth $131,000 after acquiring an additional 190 shares during the period. State of Alaska Department of Revenue increased its position in Knight-Swift Transportation by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 22,490 shares of the transportation company’s stock worth $1,178,000 after acquiring an additional 205 shares during the period. SummerHaven Investment Management LLC increased its position in Knight-Swift Transportation by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 16,016 shares of the transportation company’s stock worth $839,000 after acquiring an additional 206 shares during the period. Finally, Prospera Financial Services Inc increased its position in Knight-Swift Transportation by 3.8% during the fourth quarter. Prospera Financial Services Inc now owns 5,693 shares of the transportation company’s stock worth $298,000 after acquiring an additional 206 shares during the period. Institutional investors own 87.51% of the company’s stock.
Knight-Swift Transportation Stock Performance
Knight-Swift Transportation stock opened at $54.96 on Friday. The stock has a 50-day simple moving average of $55.61 and a 200 day simple moving average of $56.30. 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 12-month low of $45.63 and a 12-month high of $64.35. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.25 and a beta of 1.13.
Knight-Swift Transportation Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 27th. Shareholders of record on Friday, June 9th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $0.56 annualized dividend and a yield of 1.02%. Knight-Swift Transportation’s dividend payout ratio is currently 13.59%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Wolfe Research raised shares of Knight-Swift Transportation from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Wednesday, March 22nd. Stifel Nicolaus decreased their price target on shares of Knight-Swift Transportation from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, March 22nd. TD Cowen decreased their price target on shares of Knight-Swift Transportation from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st. Morgan Stanley decreased their price target on shares of Knight-Swift Transportation from $88.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, April 21st. Finally, Stephens reiterated an “overweight” rating and set a $70.00 price target on shares of Knight-Swift Transportation in a research note on Friday, April 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.29.
Insiders Place Their Bets
In other Knight-Swift Transportation news, SVP Dustin Ohlman sold 1,296 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $56.91, for a total transaction of $73,755.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Dustin Ohlman sold 1,296 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $56.91, for a total value of $73,755.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kevin P. Knight sold 64,139 shares of the company’s stock in a transaction dated 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. In the last three months, insiders sold 71,516 shares of company stock valued at $4,047,808. 3.10% of the stock is currently owned by insiders.
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 transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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