BlackRock Inc. Has $297.58 Million Holdings in Swift Transportation Company (KNX)
BlackRock Inc. grew its holdings in shares of Swift Transportation Company (NYSE:KNX) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,031,762 shares of the transportation company’s stock after purchasing an additional 133,297 shares during the period. BlackRock Inc. owned about 9.99% of Swift Transportation worth $297,576,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings 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 during the period. Teachers Advisors LLC raised its position in shares of Swift Transportation by 1,098.3% in the second quarter. Teachers Advisors LLC now owns 1,381,195 shares of the transportation company’s stock valued at $51,173,000 after buying an additional 1,265,934 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Swift Transportation by 218.5% in the second quarter. TIAA CREF Investment Management LLC now owns 579,659 shares of the transportation company’s stock valued at $21,476,000 after buying an additional 397,665 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Swift Transportation by 5.1% in the first quarter. Vanguard Group Inc. now owns 5,689,091 shares of the transportation company’s stock valued at $178,353,000 after buying an additional 275,392 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Swift Transportation by 547.0% in the second quarter. Russell Investments Group Ltd. now owns 210,888 shares of the transportation company’s stock valued at $7,814,000 after buying an additional 178,292 shares in the last quarter.
In related news, Director G D. Madden sold 1,875 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.52, for a total value of $68,475.00. Following the transaction, the director now directly owns 56,011 shares in the company, valued at $2,045,521.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Todd F. Carlson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the transaction, the general counsel now owns 23,638 shares in the company, valued at $894,934.68. The disclosure for this sale can be found here. Company insiders own 44.90% of the company’s stock.
A number of equities research analysts recently issued reports 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 report on Wednesday, July 5th. ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Seaport Global Securities reaffirmed a “buy” rating on shares of Swift Transportation in a report on Thursday, September 21st. BidaskClub raised Swift Transportation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $43.00 target price (up from $41.00) on shares of Swift Transportation in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Swift Transportation currently has a consensus rating of “Buy” and an average target price of $40.50.
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Swift Transportation Company (NYSE:KNX) opened at 41.42 on Tuesday. Swift Transportation Company has a 12-month low of $26.85 and a 12-month high of $44.45. The company has a market cap of $3.34 billion, a PE ratio of 42.70 and a beta of 1.97. The stock has a 50 day moving average of $39.48 and a 200-day moving average of $35.61.
Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $273.20 million during the quarter, compared to analyst estimates of $283.88 million. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. On average, equities research analysts anticipate that Swift Transportation Company will post $1.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a $0.06 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.58%.
About Swift Transportation
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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