Swift Transportation Company (KNX) Shares Sold by Symphony Asset Management LLC
Symphony Asset Management LLC reduced its holdings in Swift Transportation Company (NYSE:KNX) by 30.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,192 shares of the transportation company’s stock after selling 15,569 shares during the period. Symphony Asset Management LLC’s holdings in Swift Transportation were worth $1,304,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Eaton Vance Management grew its holdings in Swift Transportation by 0.6% in the second quarter. Eaton Vance Management now owns 8,052 shares of the transportation company’s stock valued at $298,000 after purchasing an additional 49 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Swift Transportation by 0.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,069 shares of the transportation company’s stock valued at $373,000 after purchasing an additional 85 shares during the period. US Bancorp DE grew its holdings in Swift Transportation by 0.3% in the second quarter. US Bancorp DE now owns 29,263 shares of the transportation company’s stock valued at $1,084,000 after purchasing an additional 92 shares during the period. Granite Investment Partners LLC grew its holdings in Swift Transportation by 0.4% in the second quarter. Granite Investment Partners LLC now owns 23,751 shares of the transportation company’s stock valued at $880,000 after purchasing an additional 92 shares during the period. Finally, Arizona State Retirement System grew its holdings in Swift Transportation by 0.3% in the second quarter. Arizona State Retirement System now owns 34,810 shares of the transportation company’s stock valued at $1,290,000 after purchasing an additional 100 shares during the period. 74.86% of the stock is currently owned by institutional investors.
Shares of Swift Transportation Company (NYSE KNX) traded down 1.04% during trading on Wednesday, reaching $40.14. The company had a trading volume of 88,674 shares. The firm has a market capitalization of $3.24 billion, a P/E ratio of 41.38 and a beta of 1.96. The firm’s 50 day moving average price is $37.62 and its 200 day moving average price is $34.76. Swift Transportation Company has a 12 month low of $26.85 and a 12 month high of $44.45.
Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $283.88 million. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. Swift Transportation’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 EPS. Equities analysts predict that Swift Transportation Company will post $1.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, August 30th.
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In other Swift Transportation news, General Counsel Todd F. Carlson sold 3,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $37.86, for a total transaction of $113,580.00. Following the sale, the general counsel now owns 23,638 shares in the company, valued at approximately $894,934.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director G D. Madden sold 1,875 shares of the stock in a transaction 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 sale, the director now owns 56,011 shares in the company, valued at approximately $2,045,521.72. The disclosure for this sale can be found here. 44.90% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised Swift Transportation from a “sell” rating to a “hold” rating and set a $41.00 price target on the stock in a research note on Wednesday, July 5th. ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday. BidaskClub raised Swift Transportation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. Bank of America Corporation reaffirmed a “buy” rating and issued a $43.00 price target (up from $41.00) on shares of Swift Transportation in a research note on Monday, July 10th. Finally, Buckingham Research assumed coverage on Swift Transportation in a research note on Monday, August 21st. They issued a “buy” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $38.44.
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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