Massachusetts Financial Services Co. MA Decreases Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Massachusetts Financial Services Co. MA trimmed its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,699,085 shares of the transportation company's stock after selling 74,776 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.67% of Knight-Swift Transportation worth $143,159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. purchased a new stake in Knight-Swift Transportation during the 3rd quarter worth approximately $70,185,000. Norges Bank acquired a new position in shares of Knight-Swift Transportation in the fourth quarter worth $65,839,000. Victory Capital Management Inc. increased its position in shares of Knight-Swift Transportation by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company's stock worth $423,265,000 after acquiring an additional 506,491 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Knight-Swift Transportation in the fourth quarter valued at $16,256,000. Finally, Raymond James Financial Inc. purchased a new position in Knight-Swift Transportation in the fourth quarter valued at $15,111,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Douglas L. Col acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company's stock, valued at approximately $226,850. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by insiders.

Knight-Swift Transportation Stock Performance

NYSE KNX traded down $2.93 during trading on Thursday, reaching $40.06. The company's stock had a trading volume of 1,305,045 shares, compared to its average volume of 2,283,700. Knight-Swift Transportation Holdings Inc. has a twelve month low of $36.69 and a twelve month high of $61.51. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 54.90 and a beta of 1.16. The business's fifty day moving average price is $48.09 and its 200-day moving average price is $52.38. 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 posted its quarterly earnings data 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%. As a group, 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 declared 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. This is a boost from Knight-Swift Transportation's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, March 7th. Knight-Swift Transportation's dividend payout ratio is currently 98.63%.

Wall Street Analyst Weigh In

KNX has been the topic of a number of analyst reports. Susquehanna reduced their price target on Knight-Swift Transportation from $67.00 to $54.00 and set a "positive" rating on the stock in a research report on Wednesday, March 26th. Raymond James boosted their price target on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a "strong-buy" rating in a report on Thursday, January 23rd. The Goldman Sachs Group raised their price objective on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Bank of America downgraded shares of Knight-Swift Transportation from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $66.00 to $46.00 in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company cut their price target on Knight-Swift Transportation from $65.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $56.94.

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.