Redmond Asset Management LLC boosted its stake in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 1.1% in the second quarter, Holdings Channel reports. The firm owned 198,692 shares of the transportation company’s stock after purchasing an additional 2,073 shares during the quarter. Knight-Swift Transportation accounts for about 2.8% of Redmond Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Redmond Asset Management LLC’s holdings in Knight-Swift Transportation were worth $6,525,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Country Trust Bank grew its position in Knight-Swift Transportation by 22.1% in the first quarter. Country Trust Bank now owns 806,758 shares of the transportation company’s stock valued at $26,365,000 after acquiring an additional 146,162 shares during the last quarter. Norges Bank bought a new stake in shares of Knight-Swift Transportation during the fourth quarter worth about $18,781,000. Nordea Investment Management AB grew its holdings in shares of Knight-Swift Transportation by 18.7% during the first quarter. Nordea Investment Management AB now owns 154,083 shares of the transportation company’s stock worth $5,035,000 after purchasing an additional 24,289 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Knight-Swift Transportation by 27.9% during the first quarter. Sigma Planning Corp now owns 13,402 shares of the transportation company’s stock worth $438,000 after purchasing an additional 2,926 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Knight-Swift Transportation during the second quarter worth about $8,860,000. 82.64% of the stock is owned by institutional investors and hedge funds.
KNX has been the topic of several research reports. ValuEngine upgraded Knight-Swift Transportation from a “sell” rating to a “hold” rating in a report on Sunday, June 30th. Bank of America restated a “buy” rating and set a $43.00 price target (up from $38.00) on shares of Knight-Swift Transportation in a report on Thursday, July 25th. Morgan Stanley set a $48.00 price target on Knight-Swift Transportation and gave the stock a “buy” rating in a report on Monday, July 8th. KeyCorp boosted their price target on Knight-Swift Transportation from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Citigroup boosted their price target on Knight-Swift Transportation from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Knight-Swift Transportation presently has a consensus rating of “Buy” and a consensus target price of $42.91.
KNX stock traded down $0.61 during trading on Thursday, hitting $32.47. The company had a trading volume of 47,698 shares, compared to its average volume of 2,899,995. The stock has a 50-day moving average price of $34.47. Knight-Swift Transportation Holdings Inc has a one year low of $23.27 and a one year high of $39.26. The firm has a market cap of $5.62 billion, a PE ratio of 12.69, a PEG ratio of 0.90 and a beta of 1.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.17.
Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 24th. The transportation company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Knight-Swift Transportation had a return on equity of 8.66% and a net margin of 8.19%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. Equities analysts expect that Knight-Swift Transportation Holdings Inc will post 2.4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, August 30th. Knight-Swift Transportation’s payout ratio is presently 9.38%.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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