Fmr LLC Has $244.60 Million Position in Swift Transportation Co (SWFT)
Fmr LLC increased its position in Swift Transportation Co (NYSE:SWFT) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,230,187 shares of the transportation company’s stock after purchasing an additional 116,718 shares during the period. Fmr LLC owned approximately 6.89% of Swift Transportation worth $244,599,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in Swift Transportation by 1.6% during the 1st quarter. Legal & General Group Plc now owns 68,496 shares of the transportation company’s stock valued at $1,406,000 after purchasing an additional 1,107 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Swift Transportation in the 1st quarter worth $38,449,000. Credit Suisse AG increased its holdings in shares of Swift Transportation by 0.6% in the 1st quarter. Credit Suisse AG now owns 448,753 shares of the transportation company’s stock worth $9,218,000 after purchasing an additional 2,719 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Swift Transportation by 1.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 113,244 shares of the transportation company’s stock worth $2,326,000 after purchasing an additional 1,543 shares in the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in shares of Swift Transportation in the 2nd quarter worth $7,710,000. Institutional investors own 74.86% of the company’s stock.
Several research analysts have recently weighed in on the company. BidaskClub upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Cowen and Company reiterated a “buy” rating and issued a $25.00 price objective on shares of Swift Transportation in a report on Monday, August 28th. Zacks Investment Research downgraded Swift Transportation from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $27.00 target price on shares of Swift Transportation in a research report on Tuesday, July 25th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Swift Transportation presently has an average rating of “Buy” and a consensus price target of $28.59.
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Shares of Swift Transportation Co (NYSE SWFT) opened at 29.49 on Monday. The stock has a 50 day moving average price of $36.11 and a 200 day moving average price of $33.82. Swift Transportation Co has a 1-year low of $26.72 and a 1-year high of $41.31. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 37.81 and a beta of 1.96.
Swift Transportation (NYSE:SWFT) last released its quarterly earnings data on Monday, July 24th. The transportation company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Swift Transportation had a net margin of 2.65% and a return on equity of 15.10%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. Equities research analysts anticipate that Swift Transportation Co will post $1.41 EPS for the current year.
In related news, insider Richard Stocking sold 78,215 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $28.66, for a total transaction of $2,241,641.90. Following the sale, the insider now directly owns 108,864 shares of the company’s stock, valued at $3,120,042.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Virginia Henkels sold 17,153 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $26.95, for a total value of $462,273.35. Following the sale, the chief financial officer now directly owns 16,294 shares in the company, valued at $439,123.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 251,141 shares of company stock valued at $6,959,714. 44.90% of the stock is currently owned by corporate insiders.
Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc, formerly Swift Transportation Company, provides truckload services in North America. The Company also provides rail intermodal and non-asset based freight brokerage and logistics management services. The Company provides its services across United States, Mexico and Canada using its dry van, refrigerated, flatbed and specialized trailers, and intermodal containers.
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