LS Investment Advisors LLC raised its stake in shares of Swift Transportation Company (NYSE:KNX) by 238.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,395 shares of the transportation company’s stock after buying an additional 8,032 shares during the period. LS Investment Advisors LLC’s holdings in Swift Transportation were worth $473,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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. Victory Capital Management Inc. increased its stake in Swift Transportation by 43.6% during the 1st quarter. Victory Capital Management Inc. now owns 4,578 shares of the transportation company’s stock valued at $144,000 after buying an additional 1,390 shares during the period. Riverhead Capital Management LLC increased its stake in 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. Teacher Retirement System of Texas acquired a new position in Swift Transportation during the 2nd quarter valued at about $202,000. Finally, Capital One National Association acquired a new position in Swift Transportation during the 2nd quarter valued at about $212,000.
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Swift Transportation Company (KNX) traded down $0.27 during midday trading on Friday, hitting $38.38. 2,629,800 shares of the stock were exchanged, compared to its average volume of 1,702,480. The company has a quick ratio of 1.41, a current ratio of 1.32 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $6,863.58, a price-to-earnings ratio of 28.99 and a beta of 2.07. Swift Transportation Company has a 1-year low of $26.68 and a 1-year high of $44.45.
Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The company had revenue of $521.61 million during the quarter, compared to analysts’ expectations of $1.33 billion. Swift Transportation had a return on equity of 7.48% and a net margin of 2.44%. During the same period last year, the company earned $0.34 earnings per share. equities research analysts predict that Swift Transportation Company will post 1.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 1st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, November 30th.
In related news, General Counsel Todd F. Carlson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $37.86, for a total transaction of $113,580.00. Following the transaction, the general counsel now owns 23,638 shares of the company’s stock, valued at $894,934.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.90% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on KNX. Barclays PLC raised their price objective on shares of Swift Transportation from $33.00 to $37.00 and gave the company an “underweight” rating in a research report on Monday, October 2nd. UBS AG reduced their price objective on shares of Swift Transportation from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday. ValuEngine upgraded shares of Swift Transportation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. BidaskClub lowered shares of Swift Transportation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Swift Transportation from a “buy” rating to a “hold” rating in a research report on Saturday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.13.
Swift Transportation 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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