Harvey Investment Co. LLC Acquires 25,658 Shares of Knight-Swift Transportation Holdings Inc (KNX)
Harvey Investment Co. LLC raised its holdings in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 372,206 shares of the transportation company’s stock after acquiring an additional 25,658 shares during the period. Knight-Swift Transportation makes up approximately 2.1% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 20th largest position. Harvey Investment Co. LLC owned about 0.22% of Knight-Swift Transportation worth $12,164,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC acquired a new stake in Knight-Swift Transportation in the 3rd quarter valued at about $53,000. First Hawaiian Bank acquired a new stake in shares of Knight-Swift Transportation during the 1st quarter worth approximately $54,000. We Are One Seven LLC acquired a new stake in shares of Knight-Swift Transportation during the 4th quarter worth approximately $74,000. Belpointe Asset Management LLC acquired a new stake in shares of Knight-Swift Transportation during the 3rd quarter worth approximately $104,000. Finally, Ffcm LLC acquired a new stake in shares of Knight-Swift Transportation during the 4th quarter worth approximately $106,000. Institutional investors own 82.84% of the company’s stock.
Knight-Swift Transportation stock traded up $0.72 during trading on Thursday, hitting $33.81. The company had a trading volume of 37,550 shares, compared to its average volume of 2,098,582. Knight-Swift Transportation Holdings Inc has a 1-year low of $23.27 and a 1-year high of $44.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $5.73 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.81 and a beta of 1.92.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Monday, March 4th were issued a $0.06 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.24 annualized dividend and a yield of 0.71%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 9.38%.
In related news, VP Shannon Breen sold 1,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $34.82, for a total value of $34,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James E. Jr. Updike sold 8,750 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $33.43, for a total transaction of $292,512.50. The disclosure for this sale can be found here. Insiders sold a total of 336,828 shares of company stock valued at $11,196,519 in the last quarter. 27.50% of the stock is owned by insiders.
KNX has been the subject of a number of recent analyst reports. Wolfe Research downgraded shares of Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 22nd. ValuEngine upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a report on Thursday, January 17th. TheStreet downgraded shares of Knight-Swift Transportation from a “b-” rating to a “c+” rating in a report on Thursday, December 27th. Finally, Zacks Investment Research downgraded shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating in a report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $45.17.
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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