Wells Fargo & Company MN boosted its stake in shares of Swift Transportation Company (NYSE:KNX) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,128 shares of the transportation company’s stock after purchasing an additional 7,430 shares during the period. Wells Fargo & Company MN owned approximately 0.21% of Swift Transportation worth $6,154,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Swift Transportation by 9.5% during the first quarter. Geode Capital Management LLC now owns 508,907 shares of the transportation company’s stock worth $15,953,000 after purchasing an additional 44,148 shares during the period. Vanguard Group Inc. raised its stake in Swift Transportation by 5.1% during the first quarter. Vanguard Group Inc. now owns 5,689,091 shares of the transportation company’s stock worth $178,353,000 after purchasing an additional 275,392 shares during the period. Rhumbline Advisers raised its stake in Swift Transportation by 3.6% during the second quarter. Rhumbline Advisers now owns 157,941 shares of the transportation company’s stock worth $5,852,000 after purchasing an additional 5,522 shares during the period. Bank of New York Mellon Corp raised its stake in Swift Transportation by 45.1% during the second quarter. Bank of New York Mellon Corp now owns 4,276,086 shares of the transportation company’s stock worth $158,429,000 after purchasing an additional 1,329,855 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in Swift Transportation by 7.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 386,586 shares of the transportation company’s stock worth $12,120,000 after purchasing an additional 27,043 shares during the period.

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In other Swift Transportation news, Director G D. Madden sold 1,875 shares of the business’s 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 of the company’s stock, valued at approximately $2,045,521.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Todd F. Carlson sold 3,000 shares of the business’s stock in a transaction 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 completion of the sale, the general counsel now directly owns 23,638 shares in the company, valued at approximately $894,934.68. The disclosure for this sale can be found here. 44.90% of the stock is owned by corporate insiders.

Swift Transportation Company (NYSE:KNX) opened at 39.83 on Wednesday. Swift Transportation Company has a 52 week low of $26.85 and a 52 week high of $44.45. The stock has a market cap of $3.21 billion, a P/E ratio of 41.06 and a beta of 1.97. The stock has a 50 day moving average of $39.92 and a 200-day moving average of $35.95.

Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.25. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The business had revenue of $273.20 million during the quarter, compared to analysts’ expectations of $283.88 million. During the same period in the previous year, the company earned $0.31 earnings per share. Swift Transportation’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts forecast that Swift Transportation Company will post $1.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, August 30th.

KNX has been the topic of a number of recent analyst reports. Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 price target (up previously from $41.00) on shares of Swift Transportation in a research note on Monday, July 10th. BidaskClub downgraded shares of Swift Transportation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Citigroup Inc. initiated coverage on shares of Swift Transportation in a research note on Tuesday, September 19th. They set a “buy” rating and a $48.00 price target on the stock. ValuEngine raised shares of Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Finally, Buckingham Research initiated coverage on shares of Swift Transportation in a research note on Monday, August 21st. They set a “buy” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given 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 price target of $40.50.

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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Institutional Ownership by Quarter for Swift Transportation (NYSE:KNX)

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