1,761,097 Shares in Knight-Swift Transportation Holdings Inc. $KNX Acquired by Norges Bank

Norges Bank bought a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the fourth quarter, Holdings Channel reports. The firm bought 1,761,097 shares of the transportation company’s stock, valued at approximately $92,070,000.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its stake in Knight-Swift Transportation by 1,478.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock worth $35,000 after purchasing an additional 828 shares in the last quarter. Clearstead Advisors LLC raised its position in Knight-Swift Transportation by 134.6% during the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock worth $35,000 after buying an additional 385 shares during the last quarter. MMA Asset Management LLC purchased a new position in Knight-Swift Transportation during the 3rd quarter worth approximately $41,000. Fifth Third Bancorp raised its position in Knight-Swift Transportation by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after buying an additional 267 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Knight-Swift Transportation by 54.2% during the 4th quarter. Farther Finance Advisors LLC now owns 956 shares of the transportation company’s stock worth $50,000 after buying an additional 336 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $78.59 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 374.24, a price-to-earnings-growth ratio of 1.00 and a beta of 1.18. The company has a 50 day moving average price of $65.63 and a 200-day moving average price of $58.45. Knight-Swift Transportation Holdings Inc. has a 1-year low of $38.63 and a 1-year high of $79.96.

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

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders 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 dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 8th. Knight-Swift Transportation’s payout ratio is 380.95%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Benchmark raised their price target on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Weiss Ratings raised shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 15th. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Friday, March 13th. Finally, TD Cowen raised their price target on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.