Victory Capital Management Inc. Purchases 3,767,408 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Victory Capital Management Inc. boosted its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 908.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,181,899 shares of the transportation company’s stock after purchasing an additional 3,767,408 shares during the period. Victory Capital Management Inc. owned about 2.59% of Knight-Swift Transportation worth $241,086,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KNX. Wellington Management Group LLP increased its holdings in Knight-Swift Transportation by 15.2% during the 3rd quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company’s stock worth $680,962,000 after purchasing an additional 1,794,133 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Knight-Swift Transportation by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,892,465 shares of the transportation company’s stock worth $145,057,000 after buying an additional 347,233 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Knight-Swift Transportation by 3,637.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 185,626 shares of the transportation company’s stock worth $10,701,000 after buying an additional 180,659 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Knight-Swift Transportation by 192.4% during the 3rd quarter. Citigroup Inc. now owns 86,467 shares of the transportation company’s stock worth $4,336,000 after buying an additional 180,065 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Knight-Swift Transportation by 79.9% during the 3rd quarter. Retirement Systems of Alabama now owns 397,262 shares of the transportation company’s stock worth $19,923,000 after buying an additional 176,404 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Insider Buying and Selling at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KNX shares. Robert W. Baird reduced their price objective on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Stifel Nicolaus downgraded shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $53.00 to $47.00 in a research note on Friday, April 26th. JPMorgan Chase & Co. reduced their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Susquehanna reduced their price objective on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Finally, Loop Capital downgraded shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and cut their target price for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $57.71.

Knight-Swift Transportation Stock Up 1.4 %

Knight-Swift Transportation stock opened at $46.89 on Thursday. The stock has a market cap of $7.57 billion, a P/E ratio of 69.99, a P/E/G ratio of 2.40 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 0.93 and a debt-to-equity ratio of 0.25. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The company’s 50-day moving average price is $52.89 and its two-hundred day moving average price is $54.15.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.29 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.16 dividend. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

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.