Swift Transportation Company (KNX) Shares Sold by Ameriprise Financial Inc.
Ameriprise Financial Inc. lessened its position in shares of Swift Transportation Company (NYSE:KNX) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 405,891 shares of the transportation company’s stock after selling 23,314 shares during the period. Ameriprise Financial Inc. owned about 0.50% of Swift Transportation worth $15,039,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in KNX. Swiss National Bank lifted its holdings in Swift Transportation by 1.4% during the 1st quarter. Swiss National Bank now owns 105,300 shares of the transportation company’s stock worth $3,301,000 after buying an additional 1,500 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Swift Transportation by 30.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 34,059 shares of the transportation company’s stock worth $1,068,000 after buying an additional 7,964 shares during the last quarter. Karp Capital Management Corp bought a new position in Swift Transportation during the 1st quarter worth approximately $720,000. Parametric Portfolio Associates LLC lifted its holdings in Swift Transportation by 75.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 175,802 shares of the transportation company’s stock worth $5,511,000 after buying an additional 75,361 shares during the last quarter. Finally, Oxford Asset Management bought a new position in Swift Transportation during the 1st quarter worth approximately $658,000.
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In other news, General Counsel Todd F. Carlson sold 3,000 shares of the business’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 value of $113,580.00. Following the transaction, the general counsel now directly owns 23,638 shares of the company’s stock, valued at approximately $894,934.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 56,011 shares in the company, valued at $2,045,521.72. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.
A number of research firms have commented on KNX. BidaskClub downgraded Swift Transportation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Swift Transportation from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Wednesday, July 12th. Barclays PLC increased their target price on Swift Transportation from $33.00 to $37.00 and gave the stock an “underweight” rating in a report on Monday. Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 target price (up previously from $41.00) on shares of Swift Transportation in a report on Monday, July 10th. Finally, ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Swift Transportation currently has a consensus rating of “Buy” and a consensus price target of $40.50.
Shares of Swift Transportation Company (NYSE:KNX) opened at 40.00 on Friday. Swift Transportation Company has a 52-week low of $26.85 and a 52-week high of $44.45. The company has a 50-day moving average price of $39.71 and a 200 day moving average price of $35.73. The firm has a market capitalization of $3.23 billion, a PE ratio of 41.24 and a beta of 1.97.
Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. The company had revenue of $273.20 million for the quarter, compared to the consensus estimate of $283.88 million. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. Analysts expect that Swift Transportation Company will post $1.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Wednesday, August 30th.
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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