DnB Asset Management AS Sells 70,468 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

DnB Asset Management AS lowered its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 68.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,480 shares of the transportation company’s stock after selling 70,468 shares during the period. DnB Asset Management AS’s holdings in Knight-Swift Transportation were worth $1,723,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Parkside Financial Bank & Trust boosted its holdings in shares of Knight-Swift Transportation by 88.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock worth $36,000 after acquiring an additional 322 shares during the period. UMB Bank n.a. boosted its stake in Knight-Swift Transportation by 84.3% in the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 370 shares during the period. Quarry LP grew its holdings in Knight-Swift Transportation by 71.1% in the 3rd quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after buying an additional 499 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in 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 worth $67,000 after buying an additional 213 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after buying an additional 208 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

Insider Activity

In other Knight-Swift Transportation news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $226,850. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KNX has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Benchmark assumed coverage on shares of Knight-Swift Transportation in a research report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target for the company. Wells Fargo & Company reduced their price target on Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Bank of America cut Knight-Swift Transportation from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $46.00 in a report on Tuesday. Finally, StockNews.com raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.59.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $43.74 on Wednesday. Knight-Swift Transportation Holdings Inc. has a one year low of $42.34 and a one year high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 59.91 and a beta of 0.97. The firm has a 50 day simple moving average of $50.76 and a 200 day simple moving average of $53.03.

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

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a dividend of $0.18 per share. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, March 7th. Knight-Swift Transportation’s payout ratio is 98.63%.

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.