Illinois Municipal Retirement Fund Reduces Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Illinois Municipal Retirement Fund reduced its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 45.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,808 shares of the transportation company’s stock after selling 31,804 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Knight-Swift Transportation were worth $2,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KNX. CWM LLC lifted its position in shares of Knight-Swift Transportation by 13.0% in the third quarter. CWM LLC now owns 3,063 shares of the transportation company’s stock worth $154,000 after buying an additional 352 shares in the last quarter. AE Wealth Management LLC grew its holdings in Knight-Swift Transportation by 3.4% during the 3rd quarter. AE Wealth Management LLC now owns 23,325 shares of the transportation company’s stock worth $1,170,000 after acquiring an additional 769 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Knight-Swift Transportation by 200.8% in the 3rd quarter. SG Americas Securities LLC now owns 28,538 shares of the transportation company’s stock worth $1,431,000 after purchasing an additional 19,052 shares during the period. Asset Management One Co. Ltd. boosted its position in Knight-Swift Transportation by 5.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 61,295 shares of the transportation company’s stock valued at $3,074,000 after acquiring an additional 2,912 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Knight-Swift Transportation by 12.2% during the third quarter. Linden Thomas Advisory Services LLC now owns 13,279 shares of the transportation company’s stock valued at $666,000 after purchasing an additional 1,445 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KNX. Evercore ISI reduced their price target on Knight-Swift Transportation from $60.00 to $55.00 and set an “in-line” rating on the stock in a research report on Thursday. Susquehanna cut their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Robert W. Baird decreased their target price on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday. Bank of America lowered their price target on Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Stephens decreased their target price on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Hold” and an average price target of $57.71.

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 shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Performance

KNX opened at $47.14 on Friday. The stock’s 50 day simple moving average is $53.72 and its 200 day simple moving average is $54.17. The stock has a market cap of $7.61 billion, a P/E ratio of 70.36, a P/E/G ratio of 2.48 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.73 and a 1-year high of $60.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 2.53% and a net margin of 1.50%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Knight-Swift Transportation’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.31 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio (DPR) is 95.52%.

Knight-Swift Transportation Company 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.