Truist Financial Corp Lowers Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Truist Financial Corp lowered its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 20.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 103,752 shares of the transportation company’s stock after selling 26,922 shares during the period. Truist Financial Corp owned approximately 0.06% of Knight-Swift Transportation worth $5,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Knight-Swift Transportation by 3.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company’s stock valued at $221,541,000 after buying an additional 125,827 shares during the period. Geode Capital Management LLC boosted its position in 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 valued at $147,529,000 after buying an additional 46,436 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in 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 valued at $76,224,000 after buying an additional 359,566 shares during the period. Franklin Resources Inc. purchased a new position in Knight-Swift Transportation in the 3rd quarter valued at approximately $70,185,000. Finally, Thrivent Financial for Lutherans boosted its position in Knight-Swift Transportation by 0.5% in 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 buying an additional 6,803 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $52.02 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. The firm has a market capitalization of $8.42 billion, a P/E ratio of 71.25 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $61.51. The company’s fifty day moving average price is $54.60 and its 200 day moving average price is $54.07.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. As a group, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. Knight-Swift Transportation’s payout ratio is currently 98.63%.

Analyst Ratings Changes

KNX has been the subject of several recent research reports. Bank of America raised their price target on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. TD Cowen lifted 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 report on Thursday, January 23rd. Citigroup cut shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a research report on Tuesday, November 12th. Raymond James lifted their price objective on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $48.00 to $67.00 in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Knight-Swift Transportation Company Profile

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.