Sit Investment Associates Inc. Lowers Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Sit Investment Associates Inc. reduced its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,600 shares of the transportation company’s stock after selling 975 shares during the period. Sit Investment Associates Inc.’s holdings in Knight-Swift Transportation were worth $3,161,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in Knight-Swift Transportation by 88.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock worth $36,000 after buying an additional 322 shares during the period. UMB Bank n.a. grew its holdings in shares of Knight-Swift Transportation by 84.3% in the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after acquiring an additional 370 shares during the period. Quarry LP increased its stake in Knight-Swift Transportation by 71.1% in the 3rd quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 499 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Knight-Swift Transportation by 20.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after purchasing an additional 213 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Director Douglas L. Col bought 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $45.37 per share, with a total value of $226,850.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $226,850. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Trading Down 1.4 %

Shares of Knight-Swift Transportation stock opened at $39.01 on Monday. 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 quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $49.84 and a 200-day simple moving average of $52.79. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 53.44 and a beta of 1.16.

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

Knight-Swift Transportation Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, March 7th. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s payout ratio is 98.63%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KNX. StockNews.com upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Bank of America downgraded shares of Knight-Swift Transportation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $46.00 in a report on Tuesday, April 1st. Susquehanna cut their price objective on Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, March 26th. Benchmark assumed coverage on Knight-Swift Transportation in a research note on Tuesday, March 4th. They issued a “buy” rating and a $63.00 target price on the stock. Finally, Raymond James boosted their price target on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.24.

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.