Knight-Swift Transportation Holdings Inc (NYSE:KNX) Position Raised by Redmond Asset Management LLC

Redmond Asset Management LLC raised its stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,692 shares of the transportation company’s stock after purchasing an additional 2,073 shares during the period. Knight-Swift Transportation accounts for about 2.8% of Redmond Asset Management LLC’s portfolio, making the stock its 3rd biggest position. Redmond Asset Management LLC owned about 0.11% of Knight-Swift Transportation worth $6,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Knight-Swift Transportation by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,705,986 shares of the transportation company’s stock worth $67,842,000 after acquiring an additional 379,298 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Knight-Swift Transportation during the 4th quarter worth approximately $266,000. Norges Bank bought a new position in shares of Knight-Swift Transportation during the 4th quarter worth approximately $18,781,000. Geode Capital Management LLC grew its stake in shares of Knight-Swift Transportation by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 1,315,378 shares of the transportation company’s stock worth $32,954,000 after acquiring an additional 64,144 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Knight-Swift Transportation by 12.1% during the 4th quarter. Deutsche Bank AG now owns 132,227 shares of the transportation company’s stock worth $3,312,000 after acquiring an additional 14,320 shares in the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.

Shares of NYSE:KNX traded down $0.61 during midday trading on Thursday, hitting $32.47. The stock had a trading volume of 47,698 shares, compared to its average volume of 2,899,995. Knight-Swift Transportation Holdings Inc has a 12 month low of $23.27 and a 12 month high of $39.26. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $34.47. The firm has a market capitalization of $5.62 billion, a P/E ratio of 12.69, a P/E/G ratio of 0.90 and a beta of 1.95.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Knight-Swift Transportation had a net margin of 8.19% and a return on equity of 8.66%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business earned $0.27 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. On average, research analysts predict that Knight-Swift Transportation Holdings Inc will post 2.4 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.74%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 9.38%.

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $40.00 price target (up from $39.00) on shares of Knight-Swift Transportation in a research note on Thursday, July 25th. Morgan Stanley set a $48.00 target price on shares of Knight-Swift Transportation and gave the company a “buy” rating in a research note on Monday, July 8th. ValuEngine raised shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Sunday, June 30th. KeyCorp raised their target price on shares of Knight-Swift Transportation from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Citigroup raised their target price on shares of Knight-Swift Transportation from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $42.91.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

See Also: Buy Rating

Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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