Pictet Asset Management Holding SA Boosts Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Pictet Asset Management Holding SA boosted its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,112 shares of the transportation company's stock after buying an additional 14,015 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Knight-Swift Transportation worth $4,726,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KNX. Franklin Resources Inc. bought a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at approximately $70,185,000. Norges Bank bought a new position in Knight-Swift Transportation during the fourth quarter valued at $65,839,000. Victory Capital Management Inc. grew its stake in shares of 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 worth $423,265,000 after buying an additional 506,491 shares in the last quarter. WCM Investment Management LLC purchased a new position in shares of Knight-Swift Transportation in the 4th quarter worth $16,256,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Knight-Swift Transportation in the 4th quarter worth about $15,111,000. Hedge funds and other institutional investors own 88.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on KNX shares. The Goldman Sachs Group boosted their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Bank of America lowered Knight-Swift Transportation from a "buy" rating to a "neutral" rating and decreased their price target for the company from $66.00 to $46.00 in a report on Tuesday, April 1st. Barclays dropped their price objective on shares of Knight-Swift Transportation from $68.00 to $62.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. TD Cowen raised their target price on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company cut their price target on shares of Knight-Swift Transportation from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.94.

Knight-Swift Transportation Stock Down 0.2 %

Shares of KNX traded down $0.09 during midday trading on Tuesday, reaching $39.21. 4,218,371 shares of the stock were exchanged, compared to its average volume of 2,273,372. 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 $48.68 and its two-hundred day moving average is $52.51. The company has a market capitalization of $6.35 billion, a P/E ratio of 53.71 and a beta of 1.16. Knight-Swift Transportation Holdings Inc. has a 52 week low of $36.69 and a 52 week high of $61.51.

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

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a $0.18 dividend. This is an increase from Knight-Swift Transportation's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.84%. Knight-Swift Transportation's payout ratio is 98.63%.

Insiders Place Their Bets

In related news, Director Douglas L. Col acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the purchase, the director now directly owns 5,000 shares of the company's stock, valued at $226,850. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 3.00% of the stock is owned by company insiders.

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.