Resona Asset Management Co. Ltd. Buys New Shares in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Resona Asset Management Co. Ltd. bought a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the fourth quarter, HoldingsChannel reports. The fund bought 55,024 shares of the transportation company’s stock, valued at approximately $2,922,000.

A number of other institutional investors have also added to or reduced their stakes in KNX. Franklin Resources Inc. bought a new position in Knight-Swift Transportation in the third quarter valued at $70,185,000. Norges Bank bought a new position in Knight-Swift Transportation in the fourth quarter valued at $65,839,000. Victory Capital Management Inc. increased its stake in Knight-Swift Transportation by 6.8% in the fourth quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company’s stock valued at $423,265,000 after acquiring an additional 506,491 shares during the last quarter. WCM Investment Management LLC bought a new position in Knight-Swift Transportation in the fourth quarter valued at $16,256,000. Finally, Raymond James Financial Inc. bought a new position in Knight-Swift Transportation in the fourth quarter valued at $15,111,000. Institutional investors own 88.77% of the company’s stock.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Douglas L. Col bought 5,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was acquired 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 owns 5,000 shares of the company’s stock, valued at approximately $226,850. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Performance

Shares of KNX opened at $43.00 on Thursday. Knight-Swift Transportation Holdings Inc. has a one year low of $36.69 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 50-day simple moving average of $48.09 and a two-hundred day simple moving average of $52.38. The firm has a market capitalization of $6.96 billion, a PE ratio of 58.90 and a beta of 1.16.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results 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%. On average, analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were paid a dividend of $0.18 per share. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.67%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 98.63%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on KNX shares. Raymond James upped their price target on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. 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 report on Thursday, December 12th. TD Cowen upped their price target on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Benchmark started coverage on shares of Knight-Swift Transportation in a research report on Tuesday, March 4th. They set a “buy” rating and a $63.00 price target for the company. Finally, Bank of America lowered shares of Knight-Swift Transportation from a “buy” rating to a “neutral” rating and cut their price target for the company from $66.00 to $46.00 in a research report on Tuesday, April 1st. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.94.

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.