Peregrine Capital Management LLC Has $9.39 Million Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Peregrine Capital Management LLC grew its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,112 shares of the transportation company’s stock after purchasing an additional 2,837 shares during the period. Peregrine Capital Management LLC owned approximately 0.11% of Knight-Swift Transportation worth $9,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in Knight-Swift Transportation by 3.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company’s stock valued at $221,541,000 after acquiring an additional 125,827 shares during the period. Geode Capital Management LLC grew its holdings in shares of Knight-Swift Transportation by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock worth $147,529,000 after purchasing an additional 46,436 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Knight-Swift Transportation by 34.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock worth $76,224,000 after purchasing an additional 359,566 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Knight-Swift Transportation during the 3rd quarter worth about $70,185,000. Finally, Thrivent Financial for Lutherans lifted its holdings in Knight-Swift Transportation by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,337,737 shares of the transportation company’s stock valued at $72,171,000 after purchasing an additional 6,803 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KNX. TD Cowen upped their price objective on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Susquehanna raised Knight-Swift Transportation from a “neutral” rating to a “positive” rating and raised their price target for the company from $48.00 to $67.00 in a report on Friday, January 3rd. Raymond James lifted their price objective on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Barclays increased their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation has an average rating of “Moderate Buy” and an average target price of $59.38.

Knight-Swift Transportation Stock Performance

KNX stock opened at $54.20 on Tuesday. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $61.51. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The company has a market cap of $8.77 billion, a P/E ratio of 74.24 and a beta of 0.99. The business’s fifty day moving average is $54.88 and its 200-day moving average is $54.04.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, March 7th. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s dividend payout ratio is presently 87.67%.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.