Allspring Global Investments Holdings LLC Acquires 467,647 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Allspring Global Investments Holdings LLC grew its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,075,449 shares of the transportation company's stock after purchasing an additional 467,647 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.52% of Knight-Swift Transportation worth $219,870,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KNX. Rise Advisors LLC acquired a new position in shares of Knight-Swift Transportation during the first quarter valued at $25,000. GAMMA Investing LLC increased its stake in Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company's stock valued at $35,000 after buying an additional 253 shares during the period. Versant Capital Management Inc raised its position in shares of Knight-Swift Transportation by 3,461.9% during the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company's stock worth $37,000 after buying an additional 727 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company's stock worth $45,000 after acquiring an additional 200 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company's stock valued at $51,000 after acquiring an additional 343 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the sale, the chairman now directly owns 1,467,360 shares in the company, valued at approximately $73,852,228.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the transaction, the chairman now owns 1,422,360 shares of the company's stock, valued at $73,294,210.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the sale, the chairman now directly owns 1,467,360 shares in the company, valued at $73,852,228.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,196 shares of company stock valued at $4,367,869 in the last three months. Insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KNX. UBS Group cut their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a "buy" rating for the company in a research report on Tuesday, July 9th. TD Cowen raised their target price on Knight-Swift Transportation from $47.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Barclays boosted their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Evercore ISI lowered their price objective on shares of Knight-Swift Transportation from $55.00 to $49.00 and set an "in-line" rating on the stock in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $55.88.

Knight-Swift Transportation Price Performance

NYSE KNX traded up $0.13 on Friday, hitting $51.95. 1,363,014 shares of the company's stock were exchanged, compared to its average volume of 2,050,947. The stock has a 50-day moving average of $52.21 and a 200-day moving average of $50.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $60.99. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 77.54, a P/E/G ratio of 1.44 and a beta of 0.92.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. Analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.07 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Friday, September 6th. Knight-Swift Transportation's dividend payout ratio is currently 95.52%.

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.