Strategic Financial Concepts LLC Invests $1.80 Million in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Strategic Financial Concepts LLC acquired a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,869 shares of the transportation company's stock, valued at approximately $1,796,000.

A number of other institutional investors have also recently made changes to their positions in KNX. Rhumbline Advisers raised its stake in Knight-Swift Transportation by 2.0% during the 4th quarter. Rhumbline Advisers now owns 471,677 shares of the transportation company's stock worth $25,018,000 after buying an additional 9,396 shares during the period. Stanley Laman Group Ltd. bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth $3,021,000. Legato Capital Management LLC raised its position in shares of Knight-Swift Transportation by 149.3% in the fourth quarter. Legato Capital Management LLC now owns 13,385 shares of the transportation company's stock worth $710,000 after buying an additional 8,015 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Knight-Swift Transportation by 3.1% during 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. Finally, Stephens Inc. AR lifted its stake in Knight-Swift Transportation by 1.2% during the fourth quarter. Stephens Inc. AR now owns 236,184 shares of the transportation company's stock worth $12,527,000 after purchasing an additional 2,897 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on KNX. Morgan Stanley reduced their price target on Knight-Swift Transportation from $72.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Stifel Nicolaus upped their price objective on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Raymond James upped their price objective on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 23rd. Finally, StockNews.com raised Knight-Swift Transportation from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $59.38.

Knight-Swift Transportation Stock Down 2.2 %

Shares of NYSE:KNX traded down $1.18 during trading hours on Wednesday, reaching $52.94. The stock had a trading volume of 2,155,263 shares, compared to its average volume of 2,196,896. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year high of $61.51. The firm's 50 day moving average is $54.80 and its 200-day moving average is $54.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 72.52 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings data 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%. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 7th. 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 1.36%. Knight-Swift Transportation's payout ratio is 87.67%.

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.