Teachers Retirement System of The State of Kentucky Has $2.53 Million Position in Swift Transportation Company (KNX)
Teachers Retirement System of The State of Kentucky lowered its position in shares of Swift Transportation Company (NYSE:KNX) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,400 shares of the transportation company’s stock after selling 1,639 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.09% of Swift Transportation worth $2,534,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Comerica Bank grew its stake in Swift Transportation by 4.0% in the 1st quarter. Comerica Bank now owns 73,962 shares of the transportation company’s stock worth $2,581,000 after acquiring an additional 2,817 shares during the period. LS Investment Advisors LLC raised its holdings in Swift Transportation by 33.5% in the 1st quarter. LS Investment Advisors LLC now owns 3,363 shares of the transportation company’s stock valued at $105,000 after acquiring an additional 844 shares during the last quarter. Swiss National Bank raised its holdings in Swift Transportation by 1.4% in the 1st quarter. Swiss National Bank now owns 105,300 shares of the transportation company’s stock valued at $3,301,000 after acquiring an additional 1,500 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Swift Transportation by 30.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 34,059 shares of the transportation company’s stock valued at $1,068,000 after acquiring an additional 7,964 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in Swift Transportation in the 1st quarter valued at $720,000.
In related news, Director G D. Madden sold 1,875 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.52, for a total value of $68,475.00. Following the completion of the sale, the director now owns 56,011 shares of the company’s stock, valued at approximately $2,045,521.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Todd F. Carlson sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 23,638 shares of the company’s stock, valued at approximately $894,934.68. The disclosure for this sale can be found here. 44.90% of the stock is owned by company insiders.
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Swift Transportation Company (KNX) opened at 41.55 on Monday. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 42.84 and a beta of 1.97. Swift Transportation Company has a 12-month low of $26.85 and a 12-month high of $44.45. The company has a 50-day moving average of $38.27 and a 200 day moving average of $35.07.
Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. The firm had revenue of $273.20 million for the quarter, compared to the consensus estimate of $283.88 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities analysts anticipate that Swift Transportation Company will post $1.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, August 30th.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Swift Transportation from a “sell” rating to a “hold” rating and set a $41.00 price target on the stock in a research note on Wednesday, July 5th. ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Seaport Global Securities reaffirmed a “buy” rating on shares of Swift Transportation in a research report on Thursday, September 21st. BidaskClub upgraded Swift Transportation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $43.00 target price (up from $41.00) on shares of Swift Transportation in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Swift Transportation presently has an average rating of “Buy” and an average price target of $40.06.
Swift Transportation 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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