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

Truist Financial Corp decreased its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 20.6% during the 4th quarter, Holdings Channel reports. The fund owned 103,752 shares of the transportation company’s stock after selling 26,922 shares during the quarter. Truist Financial Corp’s holdings in Knight-Swift Transportation were worth $5,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KNX. GAMMA Investing LLC lifted its stake in shares of Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock valued at $71,000 after buying an additional 208 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Knight-Swift Transportation by 20.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after purchasing an additional 213 shares during the period. MML Investors Services LLC raised its stake in Knight-Swift Transportation by 4.6% during the third quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company’s stock worth $280,000 after purchasing an additional 228 shares during the period. CIBC Asset Management Inc raised its stake in Knight-Swift Transportation by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,924 shares of the transportation company’s stock worth $261,000 after purchasing an additional 252 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in Knight-Swift Transportation by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock worth $62,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup downgraded shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target on the stock. in a research note on Tuesday, November 12th. Raymond James increased their price target on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Bank of America raised their target price on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and raised their target price for the company from $48.00 to $67.00 in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Knight-Swift Transportation has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Knight-Swift Transportation Price Performance

KNX opened at $52.02 on Friday. The company has a fifty day simple moving average of $54.60 and a 200 day simple moving average of $54.07. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 71.25 and a beta of 0.99. 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 current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

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

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.18 per share. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 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.