Victory Capital Management Inc. Decreases Stake in Knight-Swift Transportation Holdings Inc. $KNX

Victory Capital Management Inc. lowered its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,834,755 shares of the transportation company’s stock after selling 1,661,382 shares during the quarter. Victory Capital Management Inc. owned 4.21% of Knight-Swift Transportation worth $357,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Vontobel Holding Ltd. purchased a new position in shares of Knight-Swift Transportation in the fourth quarter worth $373,000. Storgate LLC purchased a new position in shares of Knight-Swift Transportation in the fourth quarter worth $645,000. Quadrant Capital Group LLC increased its position in Knight-Swift Transportation by 5.6% during the fourth quarter. Quadrant Capital Group LLC now owns 9,923 shares of the transportation company’s stock valued at $519,000 after acquiring an additional 527 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in Knight-Swift Transportation by 515.7% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 65,218 shares of the transportation company’s stock valued at $3,410,000 after acquiring an additional 54,626 shares during the last quarter. Finally, Somerset Group LLC purchased a new stake in Knight-Swift Transportation during the fourth quarter valued at $309,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $81.34 on Friday. The stock has a 50-day simple moving average of $68.08 and a two-hundred day simple moving average of $59.80. Knight-Swift Transportation Holdings Inc. has a 52-week low of $38.63 and a 52-week high of $82.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $13.22 billion, a PE ratio of 387.35, a P/E/G ratio of 1.05 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.14 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 8th. Knight-Swift Transportation’s payout ratio is currently 380.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KNX. Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, March 13th. UBS Group upped their price objective on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Stifel Nicolaus upped their price objective on Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price objective for the company in a research report on Tuesday, June 2nd. Finally, TD Cowen upped their price objective on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and an average target price of $70.19.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.