Knight-Swift Transportation Holdings Inc. $KNX Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 23.9% in the third quarter, HoldingsChannel.com reports. The firm owned 326,317 shares of the transportation company’s stock after acquiring an additional 63,037 shares during the quarter. Retirement Systems of Alabama’s holdings in Knight-Swift Transportation were worth $20,750,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Knight-Swift Transportation by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,458,088 shares of the transportation company’s stock worth $486,995,000 after purchasing an additional 60,750 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Knight-Swift Transportation in the second quarter valued at about $173,669,000. Sei Investments Co. lifted its position in Knight-Swift Transportation by 24.7% in the first quarter. Sei Investments Co. now owns 842,644 shares of the transportation company’s stock valued at $48,519,000 after buying an additional 166,919 shares during the last quarter. Principal Financial Group Inc. lifted its position in Knight-Swift Transportation by 38.9% in the first quarter. Principal Financial Group Inc. now owns 595,649 shares of the transportation company’s stock valued at $34,297,000 after buying an additional 166,668 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Knight-Swift Transportation by 36.1% during the first quarter. First Trust Advisors LP now owns 523,801 shares of the transportation company’s stock worth $30,160,000 after buying an additional 138,949 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KNX has been the subject of a number of recent analyst reports. Morgan Stanley set a $90.00 price target on shares of Knight-Swift Transportation in a research report on Wednesday, September 2nd. Zacks Research downgraded shares of Knight-Swift Transportation from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Wells Fargo & Company decreased their price objective on shares of Knight-Swift Transportation from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Knight-Swift Transportation from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Finally, Bank of America dropped their target price on shares of Knight-Swift Transportation from $98.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and an average price target of $83.22.

Knight-Swift Transportation Stock Up 0.5%

Knight-Swift Transportation stock opened at $62.40 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $10.16 billion, a P/E ratio of 30.00, a P/E/G ratio of 0.51 and a beta of 1.20. The stock’s fifty day simple moving average is $64.61 and its 200-day simple moving average is $66.11. Knight-Swift Transportation Holdings Inc. has a twelve month low of $41.24 and a twelve month high of $82.86.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Knight-Swift Transportation had a return on equity of 4.71% and a net margin of 1.92%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. As a group, equities analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.47 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Monday, December 7th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 86.02%.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings is a transportation and logistics company providing freight services primarily across North America. Its offerings include truckload transportation, less-than-truckload shipping, freight brokerage, logistics and intermodal services. The company’s truckload operations serve a range of shipping needs, including dry van, refrigerated, flatbed and dedicated transportation. Its network also supports cross-border freight movements between the United States, Mexico and Canada.