Grandeur Peak Global Advisors LLC increased its holdings in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 119.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 591,570 shares of the transportation company’s stock after acquiring an additional 321,850 shares during the period. Knight-Swift Transportation comprises approximately 3.4% of Grandeur Peak Global Advisors LLC’s portfolio, making the stock its 6th biggest holding. Grandeur Peak Global Advisors LLC owned about 0.33% of Knight-Swift Transportation worth $25,863,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in KNX. New York State Common Retirement Fund grew its holdings in Knight-Swift Transportation by 66.3% during the third quarter. New York State Common Retirement Fund now owns 160,715 shares of the transportation company’s stock valued at $6,678,000 after purchasing an additional 64,093 shares during the period. Toronto Dominion Bank bought a new position in Knight-Swift Transportation during the third quarter valued at $234,000. Rhumbline Advisers grew its holdings in Knight-Swift Transportation by 83.5% during the third quarter. Rhumbline Advisers now owns 289,887 shares of the transportation company’s stock valued at $12,045,000 after purchasing an additional 131,946 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in Knight-Swift Transportation during the third quarter valued at $1,862,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Knight-Swift Transportation during the third quarter valued at $17,372,000. 80.39% of the stock is owned by institutional investors.
Shares of Knight-Swift Transportation stock opened at $49.12 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.51. Knight-Swift Transportation Holdings Inc has a 12-month low of $26.68 and a 12-month high of $51.94. The stock has a market capitalization of $8,791.84, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.45 and a beta of 1.68.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Thursday, March 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 8.35%.
A number of research firms have recently commented on KNX. ValuEngine raised Knight-Swift Transportation from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Knight Equity raised Knight-Swift Transportation to a “buy” rating in a report on Sunday, November 26th. Morgan Stanley began coverage on Knight-Swift Transportation in a report on Wednesday, December 13th. They issued an “overweight” rating and a $50.00 price target for the company. Zacks Investment Research raised Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, January 31st. Finally, Credit Suisse Group raised their price target on Knight-Swift Transportation from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $49.60.
Knight-Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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