Peregrine Capital Management LLC Lowers Stock Position in Knight-Swift Transportation Holdings Inc. $KNX

Peregrine Capital Management LLC cut its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,326 shares of the transportation company’s stock after selling 6,474 shares during the period. Peregrine Capital Management LLC owned approximately 0.10% of Knight-Swift Transportation worth $9,059,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in KNX. Integrated Wealth Concepts LLC raised its position in Knight-Swift Transportation by 23.3% in the first quarter. Integrated Wealth Concepts LLC now owns 5,948 shares of the transportation company’s stock valued at $259,000 after purchasing an additional 1,124 shares during the period. Focus Partners Wealth acquired a new stake in shares of Knight-Swift Transportation in the first quarter valued at $451,000. Cetera Investment Advisers raised its holdings in shares of Knight-Swift Transportation by 6.9% in the 2nd quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company’s stock valued at $607,000 after buying an additional 882 shares during the period. Invesco Ltd. raised its holdings in shares of Knight-Swift Transportation by 57.7% in the 2nd quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company’s stock valued at $48,110,000 after buying an additional 398,116 shares during the period. Finally, First Trust Advisors LP lifted its stake in Knight-Swift Transportation by 54.3% during the 2nd quarter. First Trust Advisors LP now owns 491,702 shares of the transportation company’s stock worth $21,748,000 after acquiring an additional 172,956 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on KNX. UBS Group lifted their target price 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. Wells Fargo & Company raised their price objective on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price objective for the company in a report on Tuesday, June 2nd. The Goldman Sachs Group upped their target price on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, TD Cowen increased their target price on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and an average price target of $73.53.

Knight-Swift Transportation Stock Down 0.4%

Shares of Knight-Swift Transportation stock opened at $77.90 on Wednesday. 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 50 day moving average of $71.59 and a 200 day moving average of $62.21. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $12.66 billion, a P/E ratio of 370.97, a P/E/G ratio of 1.00 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.28 earnings per share. As a group, research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.14 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were paid a $0.20 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 380.95%.

About Knight-Swift Transportation

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.