Simplicity Wealth LLC Buys Shares of 6,421 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Simplicity Wealth LLC bought a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,421 shares of the transportation company’s stock, valued at approximately $353,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Knight-Swift Transportation by 0.4% during the third quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock valued at $750,459,000 after purchasing an additional 54,133 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Knight-Swift Transportation by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,952 shares of the transportation company’s stock worth $61,049,000 after acquiring an additional 35,549 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Knight-Swift Transportation by 4.5% during the third quarter. Nordea Investment Management AB now owns 1,251,000 shares of the transportation company’s stock worth $62,950,000 after acquiring an additional 54,076 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Knight-Swift Transportation by 22.6% during the third quarter. Envestnet Asset Management Inc. now owns 205,951 shares of the transportation company’s stock worth $10,328,000 after acquiring an additional 37,934 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Knight-Swift Transportation by 3,637.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 185,626 shares of the transportation company’s stock worth $10,701,000 after acquiring an additional 180,659 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KNX. Evercore ISI lowered their price target on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an “in-line” rating for the company in a research report on Thursday, April 25th. Robert W. Baird lowered their price target on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Loop Capital downgraded shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $63.00 to $53.00 in a report on Thursday, April 18th. Stifel Nicolaus downgraded shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $53.00 to $47.00 in a report on Friday, April 26th. Finally, Bank of America reduced their price objective on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.38.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Price Performance

NYSE KNX traded up $0.63 on Wednesday, reaching $47.10. The company’s stock had a trading volume of 2,523,592 shares, compared to its average volume of 2,184,865. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $7.61 billion, a PE ratio of 70.30, a PEG ratio of 2.56 and a beta of 1.03. The firm’s 50 day moving average is $50.51 and its two-hundred day moving average is $54.08.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the company posted $0.73 earnings per share. Knight-Swift Transportation’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.26 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Monday, June 10th. Knight-Swift Transportation’s dividend payout ratio is presently 95.52%.

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.