Greenleaf Trust Takes $202,000 Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Posted by Defense World Staff on Aug 29th, 2023

Greenleaf Trust acquired a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,569 shares of the transportation company’s stock, valued at approximately $202,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Knight-Swift Transportation by 0.6% during the first quarter. Vanguard Group Inc. now owns 13,894,447 shares of the transportation company’s stock valued at $701,114,000 after buying an additional 84,898 shares during the period. Wellington Management Group LLP grew its position in Knight-Swift Transportation by 13.4% during the first quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock valued at $414,739,000 after buying an additional 972,139 shares during the period. State Street Corp grew its position in Knight-Swift Transportation by 2.7% during the first quarter. State Street Corp now owns 6,314,648 shares of the transportation company’s stock valued at $318,637,000 after buying an additional 166,644 shares during the period. Morgan Stanley grew its position in Knight-Swift Transportation by 8.4% during the fourth quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock valued at $262,859,000 after buying an additional 387,501 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Knight-Swift Transportation by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,138,926 shares of the transportation company’s stock valued at $216,920,000 after buying an additional 177,233 shares during the period. 87.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KNX shares. JPMorgan Chase & Co. boosted their target price on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company an “underweight” rating in a research report on Friday, July 21st. Evercore ISI lowered shares of Knight-Swift Transportation from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $60.00 to $52.00 in a research report on Friday, July 21st. Credit Suisse Group cut shares of Knight-Swift Transportation from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $63.00 to $60.00 in a research note on Wednesday, May 17th. TD Cowen reduced their price objective on shares of Knight-Swift Transportation from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Friday, July 21st. Finally, StockNews.com started coverage on shares of Knight-Swift Transportation in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.24.

Check Out Our Latest Stock Report on Knight-Swift Transportation

Knight-Swift Transportation Stock Performance

KNX opened at $54.08 on Tuesday. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.63 and a fifty-two week high of $64.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.99 and a current ratio of 1.99. The company has a fifty day moving average of $56.74 and a 200 day moving average of $56.50. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.66 and a beta of 1.17.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Knight-Swift Transportation had a net margin of 7.48% and a return on equity of 8.08%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. As a group, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.19 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Shareholders 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 annualized dividend and a yield of 1.04%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 17.72%.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, SVP Dustin Ohlman sold 1,296 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $56.91, for a total transaction of $73,755.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Dustin Ohlman sold 1,296 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $56.91, for a total value of $73,755.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $59.00, for a total transaction of $118,000.00. Following the completion of the sale, the chief accounting officer now owns 5,880 shares of the company’s stock, valued at approximately $346,920. The disclosure for this sale can be found here. Insiders sold 103,296 shares of company stock worth $6,210,755 over the last 90 days. 3.20% of the stock is owned by insiders.

Knight-Swift Transportation Company Profile

(Free Report)

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.