Planned Solutions Inc. Invests $92,000 in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Planned Solutions Inc. purchased a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,600 shares of the transportation company’s stock, valued at approximately $92,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Knight-Swift Transportation by 15.2% during the third quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company’s stock worth $680,962,000 after buying an additional 1,794,133 shares during the last quarter. Norges Bank acquired a new position in Knight-Swift Transportation in the fourth quarter valued at about $90,026,000. Goldman Sachs Group Inc. boosted its holdings in Knight-Swift Transportation by 94.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock worth $85,249,000 after buying an additional 892,933 shares during the last quarter. Steadfast Capital Management LP bought a new stake in shares of Knight-Swift Transportation in the 2nd quarter valued at about $38,875,000. Finally, Renaissance Technologies LLC acquired a new position in Knight-Swift Transportation during the first quarter valued at approximately $27,013,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of Knight-Swift Transportation from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday. TheStreet upgraded shares of Knight-Swift Transportation from a “c+” rating to a “b-” rating in a report on Monday, December 4th. TD Cowen raised their target price on shares of Knight-Swift Transportation from $58.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, November 29th. Finally, Stifel Nicolaus raised their price target on Knight-Swift Transportation from $54.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and an average price target of $62.55.

Knight-Swift Transportation Stock Up 1.6 %

KNX stock opened at $53.59 on Thursday. The stock has a 50-day simple moving average of $56.60 and a two-hundred day simple moving average of $54.13. The firm has a market capitalization of $8.65 billion, a PE ratio of 40.29, a PEG ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.73 and a twelve month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. On average, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.47 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a dividend of $0.16 per share. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is presently 48.12%.

Insider Transactions at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

About Knight-Swift Transportation

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.