Pictet Asset Management SA raised its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 90.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,624 shares of the transportation company’s stock after acquiring an additional 53,488 shares during the period. Pictet Asset Management SA owned about 0.07% of Knight-Swift Transportation worth $6,372,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Great Lakes Advisors LLC grew its holdings in shares of Knight-Swift Transportation by 174.3% in the first quarter. Great Lakes Advisors LLC now owns 231,428 shares of the transportation company’s stock worth $13,094,000 after purchasing an additional 147,060 shares during the last quarter. Tredje AP fonden lifted its stake in Knight-Swift Transportation by 4.9% in the first quarter. Tredje AP fonden now owns 32,371 shares of the transportation company’s stock worth $1,832,000 after acquiring an additional 1,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Knight-Swift Transportation by 510.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 110,381 shares of the transportation company’s stock worth $6,245,000 after acquiring an additional 92,308 shares during the period. TimesSquare Capital Management LLC purchased a new position in Knight-Swift Transportation during the first quarter valued at $36,951,000. Finally, Orion Capital Management LLC purchased a new position in Knight-Swift Transportation during the first quarter valued at $26,000. 87.51% of the stock is currently owned by institutional investors.
Knight-Swift Transportation Trading Up 0.7 %
Knight-Swift Transportation stock opened at $55.89 on Thursday. The business has a 50-day simple moving average of $56.78 and a two-hundred day simple moving average of $56.65. The company has a market cap of $9.01 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.69 and a beta of 1.17. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.63 and a 52-week high of $64.35. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.26.
Knight-Swift Transportation Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.00%. Knight-Swift Transportation’s payout ratio is currently 17.72%.
Insider Activity
In other news, VP Michael K. Liu sold 3,081 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $56.68, for a total transaction of $174,631.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Michael K. Liu sold 3,081 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $56.68, for a total transaction of $174,631.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Kevin P. Knight sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $60.19, for a total value of $6,019,000.00. Following the completion of the transaction, the chairman now directly owns 1,497,360 shares in the company, valued at $90,126,098.40. The disclosure for this sale can be found here. Insiders have sold a total of 106,377 shares of company stock valued at $6,385,386 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.
Analyst Upgrades and Downgrades
KNX has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on Knight-Swift Transportation from $54.00 to $55.00 and gave the company an “underweight” rating in a research report on Friday, July 21st. Susquehanna lowered their price target on Knight-Swift Transportation from $53.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, July 21st. Stifel Nicolaus lowered their price target on Knight-Swift Transportation from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, July 18th. Credit Suisse Group lowered Knight-Swift Transportation from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $63.00 to $60.00 in a research report on Wednesday, May 17th. Finally, Raymond James lifted their price objective on Knight-Swift Transportation from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.24.
View Our Latest Analysis on KNX
Knight-Swift Transportation Company Profile
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.
Featured Articles
- Five stocks we like better than Knight-Swift Transportation
- How to Find Cloud Software Company Stocks to Trade and Invest
- Bear Market vs Recession: What Are the Differences?
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- 7 Best AI Mutual Funds (and ETFs) to Sweep the AI Craze
- How to Invest in Blockchain Stocks Step by Step
- Auto Parts Stocks Shift Gears: Which is the Right One to Buy?
Receive News & Ratings for Knight-Swift Transportation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knight-Swift Transportation and related companies with MarketBeat.com's FREE daily email newsletter.
