Fmr LLC Has $429.43 Million Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

FMR LLC trimmed its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,096,353 shares of the transportation company's stock after selling 206,839 shares during the period. FMR LLC owned 5.00% of Knight-Swift Transportation worth $429,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KNX. Victory Capital Management Inc. grew its position in Knight-Swift Transportation by 6.8% in the 4th quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company's stock valued at $423,265,000 after buying an additional 506,491 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Knight-Swift Transportation by 3.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company's stock worth $221,541,000 after buying an additional 125,827 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Knight-Swift Transportation by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company's stock valued at $147,529,000 after buying an additional 46,436 shares during the period. Franklin Resources Inc. grew its holdings in Knight-Swift Transportation by 36.8% during the fourth quarter. Franklin Resources Inc. now owns 1,885,438 shares of the transportation company's stock worth $100,004,000 after acquiring an additional 507,370 shares during the period. Finally, Norges Bank bought a new stake in Knight-Swift Transportation in the fourth quarter worth about $65,839,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Douglas L. Col purchased 5,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the purchase, the director now owns 5,000 shares of the company's stock, valued at approximately $226,850. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KNX. Raymond James reduced their price objective on Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating for the company in a research note on Friday. Stifel Nicolaus reduced their price objective on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a "hold" rating for the company in a research note on Monday. Susquehanna reduced their price target on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a "positive" rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company reduced their target price on Knight-Swift Transportation from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, TD Cowen upped 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. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $56.00.

Knight-Swift Transportation Trading Down 1.3 %

NYSE:KNX traded down $0.53 during trading hours on Tuesday, hitting $40.01. The stock had a trading volume of 448,339 shares, compared to its average volume of 2,300,227. The business's 50 day moving average is $47.14 and its 200-day moving average is $52.10. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 54.76 and a beta of 1.16. Knight-Swift Transportation Holdings Inc. has a one year low of $36.69 and a one year high of $61.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) 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%. Sell-side analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Knight-Swift Transportation's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.80%. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 98.63%.

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.