Fifth Third Bancorp Purchases 124,367 Shares of Knight-Swift Transportation Holdings Inc. $KNX

Fifth Third Bancorp boosted its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 14,328.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 125,235 shares of the transportation company’s stock after purchasing an additional 124,367 shares during the period. Fifth Third Bancorp’s holdings in Knight-Swift Transportation were worth $7,211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in Knight-Swift Transportation by 23.3% during the first quarter. Integrated Wealth Concepts LLC now owns 5,948 shares of the transportation company’s stock worth $259,000 after buying an additional 1,124 shares during the last quarter. Focus Partners Wealth bought a new stake in Knight-Swift Transportation in the first quarter valued at approximately $451,000. Cetera Investment Advisers lifted its position in shares of Knight-Swift Transportation by 6.9% in the second quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company’s stock valued at $607,000 after buying an additional 882 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Knight-Swift Transportation by 57.7% during the 2nd quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company’s stock worth $48,110,000 after acquiring an additional 398,116 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Knight-Swift Transportation by 54.3% during the 2nd quarter. First Trust Advisors LP now owns 491,702 shares of the transportation company’s stock worth $21,748,000 after acquiring an additional 172,956 shares during the period. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

Knight-Swift Transportation stock opened at $77.19 on Friday. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 367.60, a PEG ratio of 0.82 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. Knight-Swift Transportation Holdings Inc. has a 12 month low of $38.63 and a 12 month high of $82.86. The stock’s 50 day moving average is $74.27 and its 200-day moving average is $64.11.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. Equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.21 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 380.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KNX shares. Stifel Nicolaus boosted their target price on Knight-Swift Transportation from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. UBS Group lifted their price objective on shares of Knight-Swift Transportation from $79.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. TD Cowen upped their price objective on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Barclays increased their price objective on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Finally, Robert W. Baird raised their target price on shares of Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of “Buy” and an average target price of $80.44.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.