Knight-Swift Transportation Holdings Inc (KNX) Stake Raised by Bank of America Corp DE
Bank of America Corp DE increased its stake in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,252,629 shares of the transportation company’s stock after buying an additional 168,081 shares during the quarter. Bank of America Corp DE owned approximately 0.70% of Knight-Swift Transportation worth $47,863,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Knight-Swift Transportation in the 1st quarter valued at approximately $131,000. We Are One Seven LLC raised its stake in Knight-Swift Transportation by 126.8% in the 1st quarter. We Are One Seven LLC now owns 3,119 shares of the transportation company’s stock valued at $144,000 after acquiring an additional 1,744 shares during the period. Cerebellum GP LLC bought a new stake in Knight-Swift Transportation in the 2nd quarter valued at $164,000. Stratos Wealth Partners LTD. bought a new stake in Knight-Swift Transportation in the 1st quarter valued at $171,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Knight-Swift Transportation by 43.8% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,177 shares of the transportation company’s stock valued at $193,000 after acquiring an additional 1,272 shares during the period. 79.59% of the stock is owned by institutional investors.
A number of research firms recently weighed in on KNX. ValuEngine cut Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, July 17th. Stifel Nicolaus lowered their price objective on Knight-Swift Transportation from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. UBS Group lowered their price objective on Knight-Swift Transportation from $57.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. Finally, KeyCorp lowered their price objective on Knight-Swift Transportation from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, July 26th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $49.53.
Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 25th. The transportation company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Knight-Swift Transportation had a return on equity of 5.74% and a net margin of 13.67%. The company’s quarterly revenue was up 387.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. equities analysts expect that Knight-Swift Transportation Holdings Inc will post 2.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Monday, September 3rd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, August 30th. Knight-Swift Transportation’s payout ratio is 17.39%.
In related news, CAO Wayne Yu bought 1,750 shares of Knight-Swift Transportation stock in a transaction dated Wednesday, August 1st. The shares were bought at an average cost of $32.01 per share, with a total value of $56,017.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 27.50% of the company’s stock.
Knight-Swift Transportation Company Profile
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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