Russell Investments Group Ltd. Has $24.74 Million Position in Swift Transportation Company (KNX)
Russell Investments Group Ltd. lifted its stake in shares of Swift Transportation Company (NYSE:KNX) by 182.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 595,510 shares of the transportation company’s stock after buying an additional 384,622 shares during the quarter. Russell Investments Group Ltd. owned 0.34% of Swift Transportation worth $24,743,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Swift Transportation by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock valued at $104,000 after buying an additional 288 shares during the period. Riverhead Capital Management LLC raised its holdings in shares of Swift Transportation by 58.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,063 shares of the transportation company’s stock valued at $187,000 after buying an additional 1,863 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Swift Transportation by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,385 shares of the transportation company’s stock valued at $200,000 after buying an additional 807 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Swift Transportation during the 2nd quarter valued at about $202,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Swift Transportation during the 3rd quarter valued at about $234,000. Institutional investors and hedge funds own 65.87% of the company’s stock.
In other news, Director Michael Garnreiter sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $38.50, for a total value of $96,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Todd F. Carlson sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $39.24, for a total value of $353,160.00. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.
Shares of Swift Transportation Company (NYSE KNX) opened at $39.83 on Friday. Swift Transportation Company has a twelve month low of $26.68 and a twelve month high of $44.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $7,103.08, a P/E ratio of 29.94 and a beta of 2.07.
Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.05). Swift Transportation had a net margin of 2.44% and a return on equity of 7.48%. The firm had revenue of $521.61 million during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.34 earnings per share. sell-side analysts predict that Swift Transportation Company will post 1.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 1st will be issued a $0.06 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.60%.
Several research firms have issued reports on KNX. Knight Equity upgraded Swift Transportation to a “buy” rating in a report on Tuesday, November 14th. KeyCorp upgraded Swift Transportation from a “sector weight” rating to an “overweight” rating in a report on Tuesday, November 14th. Zacks Investment Research downgraded Swift Transportation from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 14th. UBS AG dropped their price objective on Swift Transportation from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. Finally, Credit Suisse Group dropped their price objective on Swift Transportation from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Swift Transportation presently has an average rating of “Buy” and an average target price of $41.13.
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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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