Wellington Management Group LLP Lowers Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Wellington Management Group LLP cut its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 23.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,936,311 shares of the transportation company’s stock after selling 4,620,667 shares during the quarter. Wellington Management Group LLP owned 0.09% of Knight-Swift Transportation worth $792,222,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Franklin Resources Inc. purchased a new stake in Knight-Swift Transportation in the 3rd quarter worth $70,185,000. Norges Bank purchased a new stake in shares of Knight-Swift Transportation during the fourth quarter worth about $65,839,000. Victory Capital Management Inc. raised its position in shares of Knight-Swift Transportation by 6.8% during the 4th quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company’s stock worth $423,265,000 after purchasing an additional 506,491 shares during the last quarter. WCM Investment Management LLC purchased a new position in Knight-Swift Transportation in the 4th quarter valued at about $16,256,000. Finally, Raymond James Financial Inc. acquired a new stake in Knight-Swift Transportation in the 4th quarter worth about $15,111,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Susquehanna decreased their target price on Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company decreased their price objective on Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Citigroup raised shares of Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 target price for the company in a report on Monday, March 10th. Benchmark initiated coverage on shares of Knight-Swift Transportation in a research note on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target on the stock. Finally, StockNews.com raised shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.59.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Douglas L. Col acquired 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $226,850. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by corporate insiders.

Knight-Swift Transportation Trading Down 0.1 %

Shares of KNX stock opened at $43.52 on Tuesday. Knight-Swift Transportation Holdings Inc. has a 1-year low of $42.47 and a 1-year high of $61.51. The firm has a market cap of $7.05 billion, a PE ratio of 59.62 and a beta of 0.97. The company has a 50-day moving average of $50.99 and a two-hundred day moving average of $53.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share 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%. On average, analysts predict 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 was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.65%. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 98.63%.

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.