Flinton Capital Management LLC Trims Stake in Swift Transportation Company (KNX)
Flinton Capital Management LLC lowered its holdings in shares of Swift Transportation Company (NYSE:KNX) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,744 shares of the transportation company’s stock after selling 18,336 shares during the quarter. Flinton Capital Management LLC owned approximately 0.14% of Swift Transportation worth $4,066,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Swift Transportation by 35.2% during the 2nd quarter. Royal Bank of Canada now owns 1,146,905 shares of the transportation company’s stock valued at $42,493,000 after purchasing an additional 298,386 shares during the last quarter. AHL Partners LLP purchased a new stake in shares of Swift Transportation during the 2nd quarter valued at about $2,394,000. HighTower Advisors LLC increased its position in shares of Swift Transportation by 3.1% during the 2nd quarter. HighTower Advisors LLC now owns 8,233 shares of the transportation company’s stock valued at $305,000 after purchasing an additional 246 shares during the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Swift Transportation during the 2nd quarter valued at about $30,414,000. Finally, Hood River Capital Management LLC purchased a new stake in shares of Swift Transportation during the 2nd quarter valued at about $15,427,000.
Several equities research analysts have recently commented on the stock. ValuEngine lowered shares of Swift Transportation from a “buy” rating to a “hold” rating in a research report on Monday. Barclays PLC upped their price target on shares of Swift Transportation from $33.00 to $37.00 and gave the company an “underweight” rating in a research report on Monday. UBS AG upped their price target on shares of Swift Transportation from $43.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Seaport Global Securities reaffirmed a “buy” rating on shares of Swift Transportation in a research report on Thursday, September 21st. Finally, Citigroup Inc. assumed coverage on shares of Swift Transportation in a research report on Tuesday, September 19th. They set a “buy” rating and a $48.00 price target for the company. One 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. The stock presently has an average rating of “Buy” and an average price target of $40.50.
Swift Transportation Company (KNX) traded down 0.62% during midday trading on Thursday, reaching $40.22. 292,671 shares of the company traded hands. Swift Transportation Company has a 1-year low of $26.85 and a 1-year high of $44.45. The firm has a 50-day moving average of $39.63 and a 200-day moving average of $35.70. The stock has a market capitalization of $3.24 billion, a P/E ratio of 41.46 and a beta of 1.97.
Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. The company had revenue of $273.20 million during the quarter, compared to the consensus estimate of $283.88 million. During the same period in the previous year, the company posted $0.31 earnings per share. Swift Transportation’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that Swift Transportation Company will post $1.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, August 30th.
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 completion of the sale, the general counsel now directly owns 23,638 shares in the company, valued at $894,934.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G D. Madden sold 1,875 shares of the business’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 completion of the sale, the director now owns 56,011 shares of the company’s stock, valued at $2,045,521.72. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.
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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