Massachusetts Financial Services Co. MA Sells 74,776 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Massachusetts Financial Services Co. MA decreased its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,699,085 shares of the transportation company’s stock after selling 74,776 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.67% of Knight-Swift Transportation worth $143,159,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stanley Laman Group Ltd. acquired a new position in Knight-Swift Transportation during the 4th quarter worth approximately $3,021,000. Jane Street Group LLC boosted its holdings in Knight-Swift Transportation by 30.9% during the third quarter. Jane Street Group LLC now owns 69,907 shares of the transportation company’s stock worth $3,771,000 after purchasing an additional 16,500 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Knight-Swift Transportation by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,175,335 shares of the transportation company’s stock valued at $62,340,000 after purchasing an additional 28,387 shares in the last quarter. Principal Financial Group Inc. grew its position in Knight-Swift Transportation by 21.5% in the third quarter. Principal Financial Group Inc. now owns 653,238 shares of the transportation company’s stock valued at $35,242,000 after purchasing an additional 115,447 shares in the last quarter. Finally, New England Research & Management Inc. increased its stake in Knight-Swift Transportation by 199.2% in the 4th quarter. New England Research & Management Inc. now owns 29,625 shares of the transportation company’s stock valued at $1,571,000 after buying an additional 19,725 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KNX has been the subject of several analyst reports. TD Cowen raised their price objective on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Benchmark assumed coverage on Knight-Swift Transportation in a research note on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target for the company. Wells Fargo & Company dropped their price objective on Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Raymond James raised their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Barclays lowered their target price on shares of Knight-Swift Transportation from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.24.

Knight-Swift Transportation Stock Down 1.4 %

KNX stock opened at $39.01 on Friday. The business’s fifty day moving average price is $49.84 and its two-hundred day moving average price is $52.79. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 53.44 and a beta of 0.97. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $36.69 and a fifty-two week high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. On average, equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s dividend payout ratio (DPR) is 98.63%.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Director Douglas L. Col purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $226,850. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.00% of the company’s stock.

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.