PNC Financial Services Group Inc. Raises Position in Knight-Swift Transportation Holdings Inc (KNX)
PNC Financial Services Group Inc. boosted its holdings in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 112.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,220 shares of the transportation company’s stock after acquiring an additional 19,661 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Knight-Swift Transportation were worth $933,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Paradigm Asset Management Co. LLC acquired a new stake in shares of Knight-Swift Transportation during the third quarter worth $53,000. We Are One Seven LLC acquired a new stake in shares of Knight-Swift Transportation during the fourth quarter worth $74,000. Belpointe Asset Management LLC acquired a new stake in shares of Knight-Swift Transportation during the third quarter worth $104,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Knight-Swift Transportation during the third quarter worth $135,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Knight-Swift Transportation by 10.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,650 shares of the transportation company’s stock worth $117,000 after buying an additional 450 shares during the period. Institutional investors own 80.50% of the company’s stock.
A number of research analysts recently issued reports on KNX shares. Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, November 26th. UBS Group reaffirmed a “neutral” rating and issued a $36.00 price objective (down previously from $43.00) on shares of Knight-Swift Transportation in a report on Tuesday, December 4th. ValuEngine cut shares of Knight-Swift Transportation from a “hold” rating to a “sell” rating in a report on Friday, December 21st. Finally, TheStreet cut shares of Knight-Swift Transportation from a “b-” rating to a “c+” rating in a research note on Thursday, December 27th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.17.
KNX stock opened at $34.77 on Friday. The stock has a market cap of $5.85 billion, a PE ratio of 13.58, a P/E/G ratio of 0.83 and a beta of 1.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.48 and a quick ratio of 1.48. Knight-Swift Transportation Holdings Inc has a 52 week low of $23.27 and a 52 week high of $50.35.
Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Tuesday, January 29th. The transportation company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Knight-Swift Transportation had a net margin of 7.85% and a return on equity of 8.46%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts anticipate that Knight-Swift Transportation Holdings Inc will post 2.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Monday, March 4th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, March 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.69%. Knight-Swift Transportation’s dividend payout ratio is currently 9.38%.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics 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.
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