Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,631 shares of the transportation company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Knight-Swift Transportation were worth $2,420,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KNX. Franklin Resources Inc. acquired a new stake in Knight-Swift Transportation in the 3rd quarter valued at $70,185,000. Nuance Investments LLC increased its holdings in Knight-Swift Transportation by 74.5% in the 3rd quarter. Nuance Investments LLC now owns 929,083 shares of the transportation company’s stock valued at $50,124,000 after purchasing an additional 396,607 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings 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 purchasing an additional 359,566 shares in the last quarter. WCM Investment Management LLC acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at $16,256,000. Finally, Principal Financial Group Inc. increased its holdings in Knight-Swift Transportation by 42.9% in the 4th quarter. Principal Financial Group Inc. now owns 933,359 shares of the transportation company’s stock valued at $49,505,000 after purchasing an additional 280,121 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $47.07 on Friday. 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 firm’s 50-day moving average price is $53.79 and its two-hundred day moving average price is $53.84. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $61.51. The stock has a market capitalization of $7.62 billion, a P/E ratio of 64.48 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, topping 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 forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.53%. 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. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 98.63%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KNX. The Goldman Sachs Group increased 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. StockNews.com upgraded Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Barclays raised their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Raymond James raised their target price on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Bank of America raised their target price on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.59.

Knight-Swift Transportation 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.