Truist Financial Corp Has $5.50 Million Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Truist Financial Corp cut its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 20.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,752 shares of the transportation company's stock after selling 26,922 shares during the period. Truist Financial Corp owned approximately 0.06% of Knight-Swift Transportation worth $5,503,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of KNX. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Knight-Swift Transportation during the 3rd quarter worth approximately $3,729,000. Charles Schwab Investment Management Inc. grew its holdings in Knight-Swift Transportation by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company's stock valued at $61,878,000 after buying an additional 26,346 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in Knight-Swift Transportation during the fourth quarter valued at $3,021,000. Jane Street Group LLC raised its position in Knight-Swift Transportation by 30.9% in the 3rd quarter. Jane Street Group LLC now owns 69,907 shares of the transportation company's stock worth $3,771,000 after purchasing an additional 16,500 shares during the period. Finally, Paloma Partners Management Co grew its stake in shares of Knight-Swift Transportation by 681.6% in the third quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company's stock worth $3,237,000 after purchasing an additional 52,323 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Performance

NYSE KNX traded down $0.05 during midday trading on Wednesday, hitting $50.15. The company had a trading volume of 669,716 shares, compared to its average volume of 2,273,768. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $61.51. 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 has a fifty day simple moving average of $54.44 and a two-hundred day simple moving average of $54.07. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 68.62 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. Equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a $0.18 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. This is an increase from Knight-Swift Transportation's previous quarterly dividend of $0.16. Knight-Swift Transportation's dividend payout ratio (DPR) is 98.63%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Bank of America upped their price target on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Citigroup lowered Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 price target on the stock. in a report on Tuesday, November 12th. TD Cowen upped their target price on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. One 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.38.

About Knight-Swift Transportation

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.