Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Position Reduced by Assetmark Inc.

Assetmark Inc. decreased its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 88.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,849 shares of the transportation company’s stock after selling 998,243 shares during the period. Assetmark Inc.’s holdings in Knight-Swift Transportation were worth $7,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC raised its holdings in Knight-Swift Transportation by 0.3% during the fourth quarter. GW&K Investment Management LLC now owns 80,605 shares of the transportation company’s stock worth $4,647,000 after purchasing an additional 255 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Knight-Swift Transportation by 5.2% during the fourth quarter. Wells Fargo & Company MN now owns 161,243 shares of the transportation company’s stock worth $9,296,000 after purchasing an additional 7,904 shares in the last quarter. UBS Group AG raised its holdings in Knight-Swift Transportation by 4.4% during the fourth quarter. UBS Group AG now owns 118,620 shares of the transportation company’s stock worth $6,838,000 after purchasing an additional 5,033 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Knight-Swift Transportation by 210.4% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,418 shares of the transportation company’s stock worth $197,000 after purchasing an additional 2,317 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at $201,232,000. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Trading Up 1.4 %

Knight-Swift Transportation stock opened at $47.10 on Thursday. The company’s fifty day simple moving average is $50.51 and its 200-day simple moving average is $54.08. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.25. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99. The stock has a market cap of $7.61 billion, a P/E ratio of 70.30, a P/E/G ratio of 1.17 and a beta of 1.03.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.26 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Monday, June 10th. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Insider Activity at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on KNX shares. JPMorgan Chase & Co. dropped their price target on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Barclays dropped their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. TD Cowen dropped their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Raymond James started coverage on Knight-Swift Transportation in a report on Wednesday, May 15th. They issued a “strong-buy” rating and a $58.00 price target on the stock. Finally, Robert W. Baird dropped their price target on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.38.

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.