Northpointe Capital LLC Takes Position in Swift Transportation Co. (SWFT)
Northpointe Capital LLC purchased a new position in Swift Transportation Co. (NYSE:SWFT) during the second quarter, Holdings Channel reports. The institutional investor purchased 694,726 shares of the company’s stock, valued at approximately $10,706,000. Swift Transportation accounts for approximately 1.3% of Northpointe Capital LLC’s investment portfolio, making the stock its 19th largest position.
Several other institutional investors have also recently added to or reduced their stakes in SWFT. Parkwood LLC bought a new position in Swift Transportation during the second quarter valued at $243,000. Aperio Group LLC increased its position in Swift Transportation by 21.1% in the first quarter. Aperio Group LLC now owns 17,444 shares of the company’s stock valued at $325,000 after buying an additional 3,044 shares during the period. IFP Advisors Inc increased its position in Swift Transportation by 2,702.7% in the first quarter. IFP Advisors Inc now owns 19,002 shares of the company’s stock valued at $354,000 after buying an additional 18,324 shares during the period. Pictet Asset Management Ltd. bought a new position in Swift Transportation during the first quarter valued at $596,000. Finally, Nordea Investment Management AB increased its position in Swift Transportation by 314.7% in the second quarter. Nordea Investment Management AB now owns 38,953 shares of the company’s stock valued at $600,000 after buying an additional 29,561 shares during the period. Hedge funds and other institutional investors own 74.70% of the company’s stock.
Shares of Swift Transportation Co. (NYSE:SWFT) traded up 1.54% during midday trading on Monday, reaching $21.80. The company’s stock had a trading volume of 2,072,360 shares. The stock’s 50 day moving average price is $19.93 and its 200 day moving average price is $17.76. Swift Transportation Co. has a one year low of $11.74 and a one year high of $22.15. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 16.58 and a beta of 2.23.
Swift Transportation (NYSE:SWFT) last posted its earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. Swift Transportation had a return on equity of 32.87% and a net margin of 4.44%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm earned $0.37 EPS. Analysts predict that Swift Transportation Co. will post $1.35 earnings per share for the current year.
SWFT has been the topic of several analyst reports. Citigroup Inc. lifted their target price on Swift Transportation from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Stifel Nicolaus lifted their target price on Swift Transportation from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Deutsche Bank AG set a $19.00 target price on Swift Transportation and gave the company a “buy” rating in a research report on Thursday, July 21st. TheStreet raised Swift Transportation from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Finally, Bank of America Corp. reissued a “buy” rating and set a $24.00 price target on shares of Swift Transportation in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, six have given 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 an average price target of $19.75.
In other news, Director Richard H. Dozer sold 2,282 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $18.63, for a total transaction of $42,513.66. Following the sale, the director now directly owns 17,405 shares in the company, valued at approximately $324,255.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy W. Guin sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $19.00, for a total value of $285,000.00. Following the sale, the executive vice president now owns 18,601 shares in the company, valued at $353,419. The disclosure for this sale can be found here. Insiders own 44.90% of the company’s stock.
About Swift Transportation
Swift Transportation Company (Swift Transportation Co) is a multi-faceted transportation services company, which operates the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload, Dedicated, Swift Refrigerated and Intermodal.
Want to see what other hedge funds are holding SWFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Swift Transportation Co. (NYSE:SWFT).
Receive News & Ratings for Swift Transportation Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Swift Transportation Co. and related companies with MarketBeat.com's FREE daily email newsletter.