Canada Pension Plan Investment Board raised its stake in Swift Transportation Company (NYSE:SWFT) by 19.1% during the second quarter, Holdings Channel reports. The institutional investor owned 410,401 shares of the transportation company’s stock after buying an additional 65,800 shares during the period. Canada Pension Plan Investment Board’s holdings in Swift Transportation were worth $10,876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Swift Transportation by 1.5% in the first quarter. Wellington Management Group LLP now owns 8,853,687 shares of the transportation company’s stock valued at $181,855,000 after buying an additional 127,340 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Swift Transportation by 9.0% in the first quarter. Vanguard Group Inc. now owns 7,661,850 shares of the transportation company’s stock valued at $157,374,000 after buying an additional 629,792 shares in the last quarter. BlackRock Inc. boosted its position in shares of Swift Transportation by 40,731.1% in the first quarter. BlackRock Inc. now owns 4,864,210 shares of the transportation company’s stock valued at $99,912,000 after buying an additional 4,852,297 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Swift Transportation by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,189,778 shares of the transportation company’s stock valued at $44,977,000 after buying an additional 106,357 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Swift Transportation by 15.8% in the first quarter. Victory Capital Management Inc. now owns 2,174,749 shares of the transportation company’s stock valued at $44,669,000 after buying an additional 296,364 shares in the last quarter. Institutional investors and hedge funds own 78.75% of the company’s stock.

Shares of Swift Transportation Company (NYSE:SWFT) opened at 26.55 on Friday. Swift Transportation Company has a one year low of $18.40 and a one year high of $27.67. The company has a market capitalization of $3.56 billion, a P/E ratio of 34.04 and a beta of 1.96. The firm has a 50-day moving average of $26.06 and a 200-day moving average of $23.77.

Swift Transportation (NYSE:SWFT) last posted its quarterly earnings data on Monday, July 24th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The business had revenue of $1,000 million for the quarter, compared to the consensus estimate of $1.02 billion. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Analysts forecast that Swift Transportation Company will post $0.98 earnings per share for the current year.

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SWFT has been the topic of several analyst reports. Bank of America Corporation reiterated a “buy” rating and set a $31.00 price target (up previously from $29.00) on shares of Swift Transportation in a research note on Monday, July 10th. Vetr cut shares of Swift Transportation from a “strong-buy” rating to a “buy” rating and set a $27.80 price target on the stock. in a research note on Monday, April 24th. TheStreet cut shares of Swift Transportation from a “b-” rating to a “c” rating in a research note on Monday, April 24th. Zacks Investment Research upgraded shares of Swift Transportation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Stephens upgraded shares of Swift Transportation from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $26.00 to $30.00 in a research report on Monday, June 12th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $28.18.

In other Swift Transportation news, insider Richard Stocking sold 80,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $24.25, for a total transaction of $1,940,000.00. Following the transaction, the insider now directly owns 93,902 shares of the company’s stock, valued at $2,277,123.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Virginia Henkels sold 44,000 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $24.03, for a total transaction of $1,057,320.00. Following the transaction, the chief financial officer now directly owns 29,247 shares in the company, valued at $702,805.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 377,053 shares of company stock worth $9,597,059. Insiders own 44.90% of the company’s stock.

About Swift Transportation

Swift Transportation Company is a multi-faceted transportation services company. As of December 31, 2016, the Company operated fleets of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company’ segments include Truckload, Dedicated, Swift Refrigerated and Intermodal.

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Institutional Ownership by Quarter for Swift Transportation (NYSE:SWFT)

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