Falcon Point Capital LLC Has $6.86 Million Position in Swift Transportation Company (NYSE:SWFT)
Falcon Point Capital LLC reduced its stake in shares of Swift Transportation Company (NYSE:SWFT) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 258,721 shares of the transportation company’s stock after selling 9,344 shares during the period. Falcon Point Capital LLC’s holdings in Swift Transportation were worth $6,856,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in SWFT. State Board of Administration of Florida Retirement System boosted its position in Swift Transportation by 17.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 68,513 shares of the transportation company’s stock valued at $1,407,000 after buying an additional 10,312 shares during the period. Chicago Equity Partners LLC boosted its position in Swift Transportation by 1.2% in the first quarter. Chicago Equity Partners LLC now owns 41,670 shares of the transportation company’s stock valued at $856,000 after buying an additional 510 shares during the period. LSV Asset Management boosted its position in Swift Transportation by 79.8% in the first quarter. LSV Asset Management now owns 192,900 shares of the transportation company’s stock valued at $3,962,000 after buying an additional 85,600 shares during the period. Hussman Strategic Advisors Inc. boosted its position in Swift Transportation by 2.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the transportation company’s stock valued at $3,143,000 after buying an additional 3,000 shares during the period. Finally, Exane Derivatives acquired a new position in Swift Transportation during the first quarter valued at about $124,000. 75.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Swift Transportation Company (SWFT) opened at 26.70 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 34.23 and a beta of 1.96. The stock has a 50 day moving average price of $25.98 and a 200 day moving average price of $23.68. Swift Transportation Company has a 1-year low of $18.05 and a 1-year high of $27.23.
Swift Transportation (NYSE:SWFT) last posted its earnings results on Monday, July 24th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $1,000 million during 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 firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. Equities research analysts anticipate that Swift Transportation Company will post $0.98 EPS for the current year.
Several equities analysts have recently weighed in on the company. Bank of America Corporation reissued a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Swift Transportation in a report on Monday, July 10th. Zacks Investment Research raised Swift Transportation from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a report on Thursday, July 27th. Stifel Nicolaus reissued a “hold” rating and set a $27.00 price target on shares of Swift Transportation in a report on Tuesday, July 25th. UBS AG reissued a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Swift Transportation in a report on Tuesday, July 25th. Finally, BidaskClub raised Swift Transportation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.18.
In related news, CFO Virginia Henkels sold 20,325 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $23.90, for a total transaction of $485,767.50. Following the completion of the transaction, the chief financial officer now directly owns 53,772 shares in the company, valued at $1,285,150.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Stocking sold 80,000 shares of the business’s 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 owns 93,902 shares of the company’s stock, valued at $2,277,123.50. The disclosure for this sale can be found here. Insiders have sold 221,280 shares of company stock valued at $5,341,261 over the last 90 days. 44.90% of the stock is currently owned by insiders.
Swift Transportation Company Profile
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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