Great Lakes Advisors LLC Acquires New Position in Knight-Swift Transportation Holdings Inc (KNX)
Great Lakes Advisors LLC acquired a new stake in Knight-Swift Transportation Holdings Inc (NYSE:KNX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 55,719 shares of the transportation company’s stock, valued at approximately $1,921,000.
Several other institutional investors have also recently bought and sold shares of KNX. Belpointe Asset Management LLC acquired a new position in shares of Knight-Swift Transportation in the third quarter valued at approximately $104,000. Stratos Wealth Partners LTD. acquired a new position in shares of Knight-Swift Transportation in the third quarter valued at approximately $135,000. First Interstate Bank acquired a new position in shares of Knight-Swift Transportation in the third quarter valued at approximately $194,000. Point72 Hong Kong Ltd grew its position in shares of Knight-Swift Transportation by 97.8% in the second quarter. Point72 Hong Kong Ltd now owns 5,642 shares of the transportation company’s stock valued at $216,000 after purchasing an additional 2,789 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in shares of Knight-Swift Transportation in the second quarter valued at approximately $240,000. 80.94% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on KNX shares. Morgan Stanley set a $53.00 target price on Knight-Swift Transportation and gave the company a “buy” rating in a research report on Monday, October 22nd. ValuEngine downgraded Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Buckingham Research decreased their target price on Knight-Swift Transportation from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, October 12th. Loop Capital upped their target price on Knight-Swift Transportation from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, October 26th. Finally, Goldman Sachs Group raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $48.00 in a research report on Thursday, November 8th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Knight-Swift Transportation has an average rating of “Buy” and a consensus price target of $47.53.
Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.35 billion. Knight-Swift Transportation had a return on equity of 7.26% and a net margin of 13.47%. The firm’s quarterly revenue was up 158.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, analysts anticipate that Knight-Swift Transportation Holdings Inc will post 2.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Monday, December 3rd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, November 30th. Knight-Swift Transportation’s dividend payout ratio is presently 17.39%.
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About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics 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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