1,761,097 Shares in Knight-Swift Transportation Holdings Inc. $KNX Purchased by Norges Bank

Norges Bank bought a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,761,097 shares of the transportation company’s stock, valued at approximately $92,070,000. Norges Bank owned 1.08% of Knight-Swift Transportation as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. Fifth Third Bancorp raised its holdings in shares of Knight-Swift Transportation by 44.4% in the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 267 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Knight-Swift Transportation by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,930 shares of the transportation company’s stock valued at $2,091,000 after purchasing an additional 306 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Knight-Swift Transportation by 54.2% in the 4th quarter. Farther Finance Advisors LLC now owns 956 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 336 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Knight-Swift Transportation by 2.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 13,081 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 343 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of Knight-Swift Transportation by 134.6% in the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 385 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on KNX. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price target for the company in a report on Tuesday. Robert W. Baird boosted their price target on shares of Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Wells Fargo & Company raised their price target on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen raised their price target on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.19.

Knight-Swift Transportation Stock Up 0.0%

NYSE:KNX opened at $78.59 on Friday. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $38.63 and a fifty-two week high of $79.96. The stock has a market capitalization of $12.77 billion, a P/E ratio of 374.24, a P/E/G ratio of 1.00 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The company’s 50-day simple moving average is $65.63 and its 200-day simple moving average is $58.45.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.14 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 380.95%.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.