Northpointe Capital LLC acquired a new position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 61,296 shares of the transportation company’s stock, valued at approximately $2,013,000.
Several other institutional investors and hedge funds also recently modified their holdings of KNX. Steward Partners Investment Advisory LLC bought a new position in shares of Knight-Swift Transportation during the second quarter worth about $25,000. Princeton Global Asset Management LLC bought a new position in shares of Knight-Swift Transportation during the first quarter worth about $28,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Knight-Swift Transportation during the second quarter worth about $35,000. First Hawaiian Bank bought a new position in shares of Knight-Swift Transportation during the first quarter worth about $54,000. Finally, Enterprise Financial Services Corp bought a new position in shares of Knight-Swift Transportation during the first quarter worth about $71,000. Institutional investors own 82.87% of the company’s stock.
A number of equities analysts have recently issued reports on the company. KeyCorp raised their price objective on Knight-Swift Transportation from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley set a $48.00 price objective on Knight-Swift Transportation and gave the stock a “buy” rating in a research report on Monday, July 8th. Citigroup raised their price objective on Knight-Swift Transportation from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Bank of America restated a “buy” rating and set a $43.00 price objective (up from $38.00) on shares of Knight-Swift Transportation in a research report on Thursday, July 25th. Finally, Stephens assumed coverage on Knight-Swift Transportation in a research report on Monday, July 1st. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Knight-Swift Transportation has an average rating of “Buy” and an average price target of $42.91.
Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 24th. The transportation company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. Knight-Swift Transportation had a return on equity of 8.66% and a net margin of 8.19%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. On average, research analysts predict that Knight-Swift Transportation Holdings Inc will post 2.4 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.69%. Knight-Swift Transportation’s payout ratio is currently 9.38%.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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