Bank of Nova Scotia Sells 1,690 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Bank of Nova Scotia decreased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 22.9% in the fourth quarter, HoldingsChannel reports. The fund owned 5,693 shares of the transportation company’s stock after selling 1,690 shares during the quarter. Bank of Nova Scotia’s holdings in Knight-Swift Transportation were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of KNX. Parkside Financial Bank & Trust grew its holdings in Knight-Swift Transportation by 88.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 322 shares during the period. UMB Bank n.a. increased its stake in shares of Knight-Swift Transportation by 84.3% in the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after purchasing an additional 370 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Knight-Swift Transportation by 20.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 213 shares during the period. GAMMA Investing LLC lifted its stake in shares of Knight-Swift Transportation by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock valued at $71,000 after buying an additional 208 shares in the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in Knight-Swift Transportation by 167.2% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,336 shares of the transportation company’s stock worth $71,000 after buying an additional 836 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Stock Performance

KNX stock opened at $39.53 on Wednesday. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 54.15 and a beta of 1.16. Knight-Swift Transportation Holdings Inc. has a twelve month low of $36.69 and a twelve month high of $61.51. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $46.82 and its two-hundred day simple moving average is $52.01.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. Analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a $0.18 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.72 annualized dividend and a yield of 1.82%. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s dividend payout ratio is 98.63%.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Director Douglas L. Col purchased 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $45.37 per share, with a total value of $226,850.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $226,850. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KNX has been the topic of a number of research analyst reports. TD Cowen boosted their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. StockNews.com upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $53.00 to $48.00 in a report on Tuesday, April 8th. Stifel Nicolaus cut their price target on Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating for the company in a report on Monday. Finally, The Goldman Sachs Group lowered their target price on Knight-Swift Transportation from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

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 transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.