Allspring Global Investments Holdings LLC Has $245.31 Million Stock Holdings in Knight-Swift Transportation Holdings Inc. $KNX

by · The Cerbat Gem

Allspring Global Investments Holdings LLC decreased its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 8.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,260,269 shares of the transportation company’s stock after selling 416,153 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Knight-Swift Transportation were worth $245,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNX. Fifth Third Wealth Advisors LLC raised its stake in shares of Knight-Swift Transportation by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 5,183 shares of the transportation company’s stock worth $298,000 after buying an additional 222 shares during the last quarter. Fifth Third Bancorp grew its holdings in Knight-Swift Transportation by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after acquiring an additional 267 shares during the period. Blue Trust Inc. raised its position in shares of Knight-Swift Transportation by 123.9% during the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 301 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Knight-Swift Transportation by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,930 shares of the transportation company’s stock valued at $2,091,000 after acquiring an additional 306 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Knight-Swift Transportation by 7.9% in the 4th quarter. Parallel Advisors LLC now owns 4,240 shares of the transportation company’s stock valued at $222,000 after purchasing an additional 309 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Up 4.9%

Knight-Swift Transportation stock opened at $77.19 on Friday. The stock has a market capitalization of $12.54 billion, a PE ratio of 367.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a twelve month low of $38.63 and a twelve month high of $82.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $74.27 and a 200-day moving average of $64.11.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.20). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. On average, equities research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.21 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio is 380.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on KNX shares. Stephens raised Knight-Swift Transportation to a “strong-buy” rating in a research note on Wednesday, July 8th. Robert W. Baird increased their target price on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price on the stock in a report on Tuesday, June 2nd. Morgan Stanley boosted their target price on Knight-Swift Transportation from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company upped their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $80.44.

Get Our Latest Stock Report on Knight-Swift Transportation

Knight-Swift Transportation Company Profile

(Free Report)

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

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