Teachers Advisors LLC raised its holdings in shares of Swift Transportation Company (NYSE:KNX) by 1,098.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,381,195 shares of the transportation company’s stock after purchasing an additional 1,265,934 shares during the period. Teachers Advisors LLC owned 1.72% of Swift Transportation worth $51,173,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Swift Transportation by 3.4% during the first quarter. Wellington Management Group LLP now owns 9,403,622 shares of the transportation company’s stock worth $294,802,000 after purchasing an additional 309,790 shares in the last quarter. BlackRock Inc. increased its position in shares of Swift Transportation by 129,468.0% during the first quarter. BlackRock Inc. now owns 7,898,465 shares of the transportation company’s stock worth $247,616,000 after purchasing an additional 7,892,369 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Swift Transportation by 5.1% during the first quarter. Vanguard Group Inc. now owns 5,689,091 shares of the transportation company’s stock worth $178,353,000 after purchasing an additional 275,392 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Swift Transportation by 45.1% during the second quarter. Bank of New York Mellon Corp now owns 4,276,086 shares of the transportation company’s stock worth $158,429,000 after purchasing an additional 1,329,855 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Swift Transportation by 17.7% during the first quarter. JPMorgan Chase & Co. now owns 3,460,276 shares of the transportation company’s stock worth $108,480,000 after purchasing an additional 520,401 shares in the last quarter. 74.86% of the stock is currently owned by institutional investors and hedge funds.
In other Swift Transportation news, General Counsel Todd F. Carlson sold 3,000 shares of Swift Transportation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $37.86, for a total value of $113,580.00. Following the transaction, the general counsel now directly owns 23,638 shares in the company, valued at $894,934.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director G D. Madden sold 1,875 shares of Swift Transportation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.52, for a total transaction of $68,475.00. Following the completion of the transaction, the director now owns 56,011 shares in the company, valued at $2,045,521.72. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.
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A number of brokerages have recently issued reports on KNX. ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Buckingham Research began coverage on Swift Transportation in a research report on Monday, August 21st. They set a “buy” rating and a $43.00 price target on the stock. BidaskClub raised Swift Transportation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Deutsche Bank AG set a $45.00 price target on Swift Transportation and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research downgraded Swift Transportation from a “buy” rating to a “hold” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Swift Transportation presently has a consensus rating of “Buy” and an average price target of $38.87.
Shares of Swift Transportation Company (NYSE KNX) opened at 39.82 on Friday. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 41.05 and a beta of 1.96. The firm has a 50-day moving average of $38.02 and a 200 day moving average of $34.93. Swift Transportation Company has a 12-month low of $26.85 and a 12-month high of $44.45.
Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The firm had revenue of $273.20 million for the quarter, compared to analyst estimates of $283.88 million. During the same period last year, the business earned $0.31 EPS. Swift Transportation’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts forecast that Swift Transportation Company will post $1.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $0.06 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.60%.
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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