KLP Kapitalforvaltning AS Makes New $2.37 Million Investment in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

KLP Kapitalforvaltning AS acquired a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 44,600 shares of the transportation company’s stock, valued at approximately $2,366,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KNX. Parkside Financial Bank & Trust increased its position in shares of Knight-Swift Transportation by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock worth $36,000 after purchasing an additional 322 shares in the last quarter. UMB Bank n.a. grew its stake in Knight-Swift Transportation by 84.3% during the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after buying an additional 370 shares during the last quarter. Quarry LP increased its holdings in shares of Knight-Swift Transportation by 71.1% during the third quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock worth $65,000 after buying an additional 499 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Knight-Swift Transportation by 20.5% during the fourth 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Knight-Swift Transportation by 18.5% in the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock valued at $71,000 after acquiring an additional 208 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

KNX stock opened at $44.63 on Friday. Knight-Swift Transportation Holdings Inc. has a twelve month low of $42.72 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 company has a market cap of $7.23 billion, a P/E ratio of 61.14 and a beta of 0.97. The business’s fifty day moving average is $51.44 and its 200-day moving average is $53.17.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS 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 issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.61%. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s payout ratio is currently 98.63%.

Analysts Set New Price Targets

KNX has been the topic of a number of research analyst reports. StockNews.com upgraded Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Bank of America raised their target price on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Susquehanna reduced their price target on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Raymond James boosted their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Knight-Swift Transportation has an average rating of “Moderate Buy” and an average price target of $58.59.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Director Douglas L. Col purchased 5,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation 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.