Wedge Capital Management L L P NC Buys 5,729 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Wedge Capital Management L L P NC raised its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 216,125 shares of the transportation company’s stock after purchasing an additional 5,729 shares during the period. Wedge Capital Management L L P NC’s holdings in Knight-Swift Transportation were worth $9,399,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. 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. grew its holdings in Knight-Swift Transportation by 40.0% during the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 324 shares during the period. Arcadia Investment Management Corp MI grew its holdings in Knight-Swift Transportation by 167.2% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,336 shares of the transportation company’s stock valued at $71,000 after purchasing an additional 836 shares during the period. Quarry LP grew its holdings in Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 500 shares during the period. Finally, Generali Asset Management SPA SGR bought a new stake in Knight-Swift Transportation during the fourth quarter valued at about $99,000. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $44.65 on Monday. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $7.24 billion, a P/E ratio of 61.16 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a 12 month low of $36.69 and a 12 month high of $61.51. The business’s 50-day moving average is $41.99 and its 200 day moving average is $49.01.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. On average, equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be given a $0.18 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.61%. Knight-Swift Transportation’s dividend payout ratio is presently 76.60%.

Insiders Place Their Bets

In other news, Director Douglas L. Col bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, for a total transaction of $226,850.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $226,850. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Susquehanna cut their price target on Knight-Swift Transportation from $54.00 to $45.00 and set a “positive” rating for the company in a report on Thursday, April 24th. UBS Group lowered their price objective on Knight-Swift Transportation from $63.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their price objective on Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Barclays lowered their price objective on Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup boosted their price objective on Knight-Swift Transportation from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and an average price target of $52.67.

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.