Resona Asset Management Co. Ltd. Purchases New Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Resona Asset Management Co. Ltd. acquired a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 55,024 shares of the transportation company's stock, valued at approximately $2,922,000.

A number of other hedge funds have also bought and sold shares of KNX. Victory Capital Management Inc. grew its stake in shares of Knight-Swift Transportation by 6.8% in 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. Allspring Global Investments Holdings LLC boosted its holdings in Knight-Swift Transportation by 3.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company's stock worth $221,541,000 after purchasing an additional 125,827 shares during the last quarter. Geode Capital Management LLC grew its position in Knight-Swift Transportation by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company's stock worth $147,529,000 after purchasing an additional 46,436 shares during the period. Franklin Resources Inc. raised its stake in Knight-Swift Transportation by 36.8% during the 4th quarter. Franklin Resources Inc. now owns 1,885,438 shares of the transportation company's stock valued at $100,004,000 after buying an additional 507,370 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Knight-Swift Transportation during the 4th quarter valued at $65,839,000. Hedge funds and other institutional investors own 88.77% of the company's stock.

Insider Activity at Knight-Swift Transportation

In other news, Director Douglas L. Col acquired 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $45.37 per share, with a total value of $226,850.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on KNX. The Goldman Sachs Group reduced their price objective on Knight-Swift Transportation from $55.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Citigroup raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and reduced their price target for the company from $53.00 to $48.00 in a research report on Tuesday, April 8th. StockNews.com raised shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Wells Fargo & Company cut their target price on shares of Knight-Swift Transportation from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, Bank of America downgraded shares of Knight-Swift Transportation from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $66.00 to $46.00 in a research report on Tuesday, April 1st. Eight 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Knight-Swift Transportation Price Performance

NYSE KNX traded down $0.55 during trading hours on Tuesday, reaching $39.99. The company's stock had a trading volume of 368,633 shares, compared to its average volume of 2,299,845. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation Holdings Inc. has a 1 year low of $36.69 and a 1 year high of $61.51. The firm's 50-day moving average price is $47.14 and its 200-day moving average price is $52.10. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 54.67 and a beta of 1.16.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 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, equities research analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a $0.18 dividend. This is an increase from Knight-Swift Transportation's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, March 7th. Knight-Swift Transportation's 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.