Allspring Global Investments Holdings LLC Acquires 125,827 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Allspring Global Investments Holdings LLC increased its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,201,276 shares of the transportation company's stock after acquiring an additional 125,827 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.60% of Knight-Swift Transportation worth $221,541,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KNX. Franklin Resources Inc. acquired a new position in Knight-Swift Transportation during the third quarter worth about $70,185,000. Fortitude Family Office LLC acquired a new position in Knight-Swift Transportation during the third quarter worth about $26,775,000. Nuance Investments LLC grew its holdings in Knight-Swift Transportation by 74.5% during the third quarter. Nuance Investments LLC now owns 929,083 shares of the transportation company's stock worth $50,124,000 after acquiring an additional 396,607 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Knight-Swift Transportation by 34.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company's stock valued at $76,224,000 after purchasing an additional 359,566 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in shares of Knight-Swift Transportation during the fourth quarter valued at $16,256,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Down 0.5 %

NYSE KNX traded down $0.26 during trading on Friday, hitting $54.20. 2,401,463 shares of the company traded hands, compared to its average volume of 2,235,910. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $61.51. The business has a fifty day simple moving average of $54.88 and a 200 day simple moving average of $54.04. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $8.77 billion, a P/E ratio of 74.24 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. As a group, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.18 per share. This is a positive change from Knight-Swift Transportation's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, March 7th. Knight-Swift Transportation's dividend payout ratio (DPR) is 87.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KNX shares. TD Cowen increased their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Barclays increased their price target on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. StockNews.com upgraded Knight-Swift Transportation from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Bank of America increased their target price on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of "Moderate Buy" and an average target price of $59.38.

About Knight-Swift Transportation

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.