DnB Asset Management AS Sells 11,443 Shares of Knight

DnB Asset Management AS lowered its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 27.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,789 shares of the transportation company's stock after selling 11,443 shares during the period. DnB Asset Management AS's holdings in Knight-Swift Transportation were worth $1,742,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. ETF Managers Group LLC bought a new position in shares of Knight-Swift Transportation in the first quarter valued at approximately $378,000. Ronald Blue Trust Inc. raised its position in Knight-Swift Transportation by 34.8% in the 1st quarter. Ronald Blue Trust Inc. now owns 2,006 shares of the transportation company's stock worth $105,000 after purchasing an additional 518 shares during the last quarter. Dakota Wealth Management bought a new position in Knight-Swift Transportation in the 1st quarter worth approximately $208,000. Raymond James Financial Services Advisors Inc. raised its position in Knight-Swift Transportation by 76.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 39,089 shares of the transportation company's stock worth $2,212,000 after purchasing an additional 16,897 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its position in Knight-Swift Transportation by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 16,315 shares of the transportation company's stock worth $923,000 after purchasing an additional 299 shares during the last quarter. Institutional investors own 87.51% of the company's stock.

Shares of KNX stock opened at $54.74 on Friday. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.63 and a 12-month high of $64.35. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $55.76 and a 200-day moving average of $56.13.

Knight-Swift Transportation (NYSE:KNX - Free Report) last announced its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.10). Knight-Swift Transportation had a net margin of 9.22% and a return on equity of 10.42%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the firm earned $1.35 EPS. Knight-Swift Transportation's quarterly revenue was down 10.4% on a year-over-year basis. On average, equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 3.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 27th. Investors of record on Friday, June 9th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, June 8th. Knight-Swift Transportation's payout ratio is presently 13.59%.

In related news, VP Dustin Ohlman sold 1,300 shares of the company's stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $56.10, for a total value of $72,930.00. Following the completion of the transaction, the vice president now directly owns 137 shares of the company's stock, valued at approximately $7,685.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Dustin Ohlman sold 1,300 shares of the company's stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $56.10, for a total value of $72,930.00. Following the completion of the transaction, the vice president now directly owns 137 shares of the company's stock, valued at approximately $7,685.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael K. Liu sold 3,081 shares of the company's stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $56.68, for a total transaction of $174,631.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,516 shares of company stock valued at $4,047,808. Company insiders own 3.10% of the company's stock.

Several research analysts recently weighed in on the stock. TD Cowen dropped their price objective on shares of Knight-Swift Transportation from $70.00 to $67.00 and set an "outperform" rating for the company in a research report on Friday, April 21st. Citigroup upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $58.00 to $66.00 in a research report on Monday, May 22nd. Bank of America dropped their price objective on shares of Knight-Swift Transportation from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, April 21st. Morgan Stanley dropped their price objective on shares of Knight-Swift Transportation from $88.00 to $80.00 and set an "overweight" rating for the company in a research report on Friday, April 21st. Finally, Wolfe Research upgraded shares of Knight-Swift Transportation from a "peer perform" rating to an "outperform" rating and set a $65.00 target price for the company in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.35.

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 transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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