WCM Investment Management LLC Takes Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

WCM Investment Management LLC purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 309,224 shares of the transportation company’s stock, valued at approximately $16,256,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. acquired a new position in shares of Knight-Swift Transportation in the 3rd quarter valued at about $70,185,000. Fortitude Family Office LLC bought a new position in Knight-Swift Transportation in the third quarter worth about $26,775,000. Allspring Global Investments Holdings LLC boosted its stake in Knight-Swift Transportation by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock valued at $219,870,000 after acquiring an additional 467,647 shares during the period. 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 valued at $50,124,000 after purchasing an additional 396,607 shares during the last quarter. Finally, 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 valued at $76,224,000 after purchasing an additional 359,566 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Insider Transactions at Knight-Swift Transportation

In related news, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the transaction, the director now owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Trading Down 2.0 %

NYSE KNX opened at $54.21 on Monday. The firm’s 50 day moving average price is $55.12 and its two-hundred day moving average price is $53.95. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 74.26 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $61.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85.

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

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, December 6th. Knight-Swift Transportation’s payout ratio is currently 87.67%.

Wall Street Analysts Forecast Growth

KNX has been the subject of a number of analyst reports. Citigroup lowered Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a research report on Tuesday, November 12th. Barclays upped their price target on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Raymond James lifted their price objective on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Evercore ISI upped their target price on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley cut their price target on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

Knight-Swift Transportation 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.