Raymond James Financial Inc. Purchases Shares of 284,896 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Raymond James Financial Inc. bought a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 284,896 shares of the transportation company's stock, valued at approximately $15,111,000. Raymond James Financial Inc. owned approximately 0.18% of Knight-Swift Transportation at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KNX. Invesco Ltd. lifted its stake in Knight-Swift Transportation by 1.5% during the fourth quarter. Invesco Ltd. now owns 727,155 shares of the transportation company's stock worth $38,568,000 after purchasing an additional 10,954 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Knight-Swift Transportation by 21.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company's stock worth $113,000 after buying an additional 375 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Knight-Swift Transportation by 20.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 119,080 shares of the transportation company's stock valued at $6,316,000 after buying an additional 20,183 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Knight-Swift Transportation in the fourth quarter valued at about $2,081,000. Finally, Aviva PLC acquired a new position in Knight-Swift Transportation during the fourth quarter worth about $4,841,000. Institutional investors own 88.77% of the company's stock.

Knight-Swift Transportation Trading Down 3.6 %

Knight-Swift Transportation stock traded down $1.44 during trading hours on Friday, reaching $38.93. 2,031,369 shares of the company's stock were exchanged, compared to its average volume of 2,288,872. The firm has a market capitalization of $6.30 billion, a PE ratio of 53.28 and a beta of 1.16. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The firm's 50 day simple moving average is $44.71 and its 200 day simple moving average is $51.40. Knight-Swift Transportation Holdings Inc. has a twelve month low of $36.69 and a twelve month high of $61.51.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Knight-Swift Transportation's previous quarterly dividend of $0.16. Knight-Swift Transportation's dividend payout ratio is 98.63%.

Insider Activity at Knight-Swift Transportation

In other news, Director Douglas L. Col bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at $226,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KNX shares. JPMorgan Chase & Co. reduced their price target on shares of Knight-Swift Transportation from $49.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday. The Goldman Sachs Group decreased their target price on shares of Knight-Swift Transportation from $55.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Evercore ISI lowered their price target on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a report on Thursday. Barclays cut their price objective on Knight-Swift Transportation from $62.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, UBS Group lowered their target price on Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday. Seven research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $51.19.

Knight-Swift Transportation 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.