New York Life Investment Management LLC Reduces Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

New York Life Investment Management LLC decreased its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 7.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,763 shares of the transportation company’s stock after selling 1,409 shares during the quarter. New York Life Investment Management LLC’s holdings in Knight-Swift Transportation were worth $889,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KNX. Franklin Resources Inc. purchased a new position in shares of Knight-Swift Transportation during the third quarter worth about $70,185,000. Nuance Investments LLC grew its holdings in shares of Knight-Swift Transportation by 74.5% during the third quarter. Nuance Investments LLC now owns 929,083 shares of the transportation company’s stock worth $50,124,000 after purchasing an additional 396,607 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Knight-Swift Transportation by 34.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock worth $76,224,000 after purchasing an additional 359,566 shares during the last quarter. WCM Investment Management LLC purchased a new position in shares of Knight-Swift Transportation during the fourth quarter worth about $16,256,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Knight-Swift Transportation by 42.9% during the fourth quarter. Principal Financial Group Inc. now owns 933,359 shares of the transportation company’s stock worth $49,505,000 after purchasing an additional 280,121 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $49.14 on Tuesday. 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 company has a market cap of $7.96 billion, a P/E ratio of 67.32 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $61.51. The company has a 50-day moving average price of $54.21 and a 200 day moving average price of $54.00.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) 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%. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 98.63%.

Wall Street Analyst Weigh In

KNX has been the topic of several research reports. Bank of America raised their price objective on Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Raymond James increased their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Barclays increased their target price on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.