Tiverton Asset Management LLC lifted its position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 42.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 313,735 shares of the transportation company’s stock after buying an additional 93,528 shares during the quarter. Tiverton Asset Management LLC’s holdings in Knight-Swift Transportation were worth $10,817,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in KNX. Nissay Asset Management Corp Japan ADV grew its position in Knight-Swift Transportation by 13.8% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 12,613 shares of the transportation company’s stock worth $482,000 after purchasing an additional 1,529 shares during the period. Arizona State Retirement System grew its position in Knight-Swift Transportation by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 91,055 shares of the transportation company’s stock worth $3,140,000 after purchasing an additional 1,918 shares during the period. First Mercantile Trust Co. grew its position in Knight-Swift Transportation by 13.9% in the 3rd quarter. First Mercantile Trust Co. now owns 15,968 shares of the transportation company’s stock worth $551,000 after purchasing an additional 1,954 shares during the period. GSA Capital Partners LLP grew its position in Knight-Swift Transportation by 4.6% in the 2nd quarter. GSA Capital Partners LLP now owns 47,955 shares of the transportation company’s stock worth $1,832,000 after purchasing an additional 2,120 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of Knight-Swift Transportation by 29.3% in the 3rd quarter. D.A. Davidson & CO. now owns 9,640 shares of the transportation company’s stock worth $332,000 after buying an additional 2,183 shares during the last quarter. 80.94% of the stock is owned by institutional investors.
Several equities analysts recently commented on the stock. Goldman Sachs Group upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $48.00 in a report on Thursday, November 8th. They noted that the move was a valuation call. Morgan Stanley set a $53.00 price target on shares of Knight-Swift Transportation and gave the company a “buy” rating in a report on Monday, October 22nd. Loop Capital upped their price target on shares of Knight-Swift Transportation from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, October 26th. Buckingham Research cut their price target on shares of Knight-Swift Transportation from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, October 12th. Finally, Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Monday, November 26th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Knight-Swift Transportation presently has a consensus rating of “Buy” and a consensus target price of $47.53.
Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Knight-Swift Transportation had a net margin of 13.47% and a return on equity of 7.26%. The firm’s quarterly revenue was up 158.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. Research analysts expect that Knight-Swift Transportation Holdings Inc will post 2.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Monday, December 3rd will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.24 annualized dividend and a yield of 0.75%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 17.39%.
Knight-Swift Transportation Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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