Corebridge Financial Inc. Sells 8,221 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Corebridge Financial Inc. trimmed its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,149 shares of the transportation company’s stock after selling 8,221 shares during the period. Corebridge Financial Inc.’s holdings in Knight-Swift Transportation were worth $9,714,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Quest Partners LLC acquired a new stake in Knight-Swift Transportation during the 3rd quarter worth $88,000. Charles Schwab Investment Management Inc. grew its stake in shares of Knight-Swift Transportation by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company’s stock worth $61,878,000 after purchasing an additional 26,346 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Knight-Swift Transportation by 9.9% during the third quarter. Daiwa Securities Group Inc. now owns 12,197 shares of the transportation company’s stock worth $658,000 after purchasing an additional 1,100 shares during the period. Bank of Montreal Can increased its holdings in Knight-Swift Transportation by 180.6% in the third quarter. Bank of Montreal Can now owns 81,266 shares of the transportation company’s stock valued at $4,392,000 after purchasing an additional 52,309 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Knight-Swift Transportation by 116.1% in the third quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company’s stock valued at $7,056,000 after buying an additional 70,276 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on KNX. Citigroup upgraded Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 target price for the company in a research report on Monday, March 10th. Benchmark began coverage on shares of Knight-Swift Transportation in a report on Tuesday, March 4th. They set a “buy” rating and a $63.00 price objective for the company. Susquehanna cut their target price on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday. StockNews.com raised shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Bank of America upped their price objective on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.65.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $44.61 on Thursday. The firm has a market cap of $7.22 billion, a PE ratio of 61.10 and a beta of 0.97. Knight-Swift Transportation Holdings Inc. has a 12 month low of $42.72 and a 12 month high of $61.51. The company’s fifty day simple moving average is $51.68 and its 200-day simple moving average is $53.23. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 EPS 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%. 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 declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a dividend of $0.18 per share. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.61%. Knight-Swift Transportation’s payout ratio is 98.63%.

Insider Transactions at Knight-Swift Transportation

In other news, Director Douglas L. Col bought 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $226,850. This represents a ∞ increase in their ownership of the stock. The acquisition 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.

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.