PNC Financial Services Group Inc. Purchases 29,824 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

PNC Financial Services Group Inc. boosted its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 57.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,799 shares of the transportation company’s stock after acquiring an additional 29,824 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Knight-Swift Transportation were worth $4,339,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its position in shares of Knight-Swift Transportation by 88.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock valued at $36,000 after buying an additional 322 shares during the last quarter. UMB Bank n.a. boosted its holdings in Knight-Swift Transportation by 84.3% in the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 370 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Knight-Swift Transportation by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 292 shares during the last quarter. Quarry LP boosted its stake in shares of Knight-Swift Transportation by 71.1% in the 3rd quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 499 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Knight-Swift Transportation by 20.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 213 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on KNX shares. Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and upped their price target for the company from $48.00 to $67.00 in a research report on Friday, January 3rd. Citigroup upgraded Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 target price on the stock in a research report on Monday. Benchmark started coverage on Knight-Swift Transportation in a research report on Tuesday, March 4th. They set a “buy” rating and a $63.00 target price on the stock. Raymond James increased their price target on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group increased their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.41.

Knight-Swift Transportation Trading Down 2.3 %

NYSE:KNX opened at $45.63 on Friday. Knight-Swift Transportation Holdings Inc. has a one year low of $44.95 and a one year high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. The company’s 50-day simple moving average is $53.27 and its 200 day simple moving average is $53.64. The firm has a market capitalization of $7.39 billion, a P/E ratio of 62.51 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results 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 return on equity of 2.43% and a net margin of 1.59%. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.18 dividend. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.58%. Knight-Swift Transportation’s payout ratio is presently 98.63%.

Knight-Swift Transportation Company Profile

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.