Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Holdings Cut by Fortitude Family Office LLC

Fortitude Family Office LLC lowered its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 50.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 247,224 shares of the transportation company’s stock after selling 249,072 shares during the quarter. Knight-Swift Transportation makes up about 4.7% of Fortitude Family Office LLC’s investment portfolio, making the stock its 4th largest holding. Fortitude Family Office LLC owned approximately 0.15% of Knight-Swift Transportation worth $13,113,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its position in Knight-Swift Transportation by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock valued at $1,230,000 after acquiring an additional 196 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC boosted its position 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 valued at $71,000 after purchasing an additional 208 shares in the last quarter. MML Investors Services LLC grew its stake in Knight-Swift Transportation by 4.6% in the third quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company’s stock worth $280,000 after purchasing an additional 228 shares during the period. Finally, MQS Management LLC grew its stake in Knight-Swift Transportation by 3.7% in the second quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock worth $348,000 after purchasing an additional 250 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Stock Up 0.7 %

KNX opened at $53.94 on Friday. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $55.52 and a 200-day moving average price of $52.99. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 234.53, a PEG ratio of 1.89 and a beta of 0.98.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the firm earned $0.41 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.19%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 278.26%.

Insider Transactions at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ploeg David Vander sold 500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now directly owns 30,729 shares of the company’s stock, valued at $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on KNX shares. The Goldman Sachs Group boosted their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Barclays boosted their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Citigroup cut shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective on the stock. in a report on Tuesday, November 12th. Morgan Stanley lowered their target price on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, TD Cowen upped their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.19.

About Knight-Swift Transportation

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.