KLP Kapitalforvaltning AS Invests $2.37 Million in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

KLP Kapitalforvaltning AS purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 44,600 shares of the transportation company's stock, valued at approximately $2,366,000.

A number of other institutional investors also recently bought and sold shares of KNX. Parkside Financial Bank & Trust raised its stake in shares of Knight-Swift Transportation by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company's stock valued at $36,000 after buying an additional 322 shares during the last quarter. UMB Bank n.a. raised its position in Knight-Swift Transportation by 84.3% during the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company's stock valued at $43,000 after acquiring an additional 370 shares in the last quarter. Quarry LP lifted its holdings in Knight-Swift Transportation by 71.1% in the third quarter. Quarry LP now owns 1,201 shares of the transportation company's stock valued at $65,000 after acquiring an additional 499 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Knight-Swift Transportation by 20.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company's stock worth $67,000 after purchasing an additional 213 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Knight-Swift Transportation by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company's stock worth $71,000 after purchasing an additional 208 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, Director Douglas L. Col purchased 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $45.37 per share, with a total value of $226,850.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $226,850. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KNX shares. StockNews.com upgraded shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Raymond James increased their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a "strong-buy" rating in a research note on Thursday, January 23rd. Bank of America lowered Knight-Swift Transportation from a "buy" rating to a "neutral" rating and cut their price target for the company from $66.00 to $46.00 in a research note on Tuesday. Benchmark began coverage on Knight-Swift Transportation in a research report on Tuesday, March 4th. They set a "buy" rating and a $63.00 price target on the stock. Finally, Citigroup upgraded Knight-Swift Transportation from a "sell" rating to a "neutral" rating and set a $53.00 price objective for the company in a research report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.59.

Knight-Swift Transportation Price Performance

KNX stock traded up $0.25 during mid-day trading on Tuesday, reaching $43.74. The company's stock had a trading volume of 2,585,446 shares, compared to its average volume of 2,216,547. 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's 50 day moving average is $50.76 and its two-hundred day moving average is $53.03. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $61.51. The stock has a market cap of $7.08 billion, a PE ratio of 59.91 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 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%. Equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current 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 $0.18 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Knight-Swift Transportation's previous quarterly dividend of $0.16. Knight-Swift Transportation's dividend payout ratio is currently 98.63%.

Knight-Swift Transportation Company Profile

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.