Advantus Capital Management Inc Takes $671,000 Position in Swift Transportation Company (KNX)
Advantus Capital Management Inc purchased a new stake in shares of Swift Transportation Company (NYSE:KNX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,138 shares of the transportation company’s stock, valued at approximately $671,000. Advantus Capital Management Inc owned approximately 9,087.74% of Swift Transportation as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNX. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Swift Transportation by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock valued at $104,000 after purchasing an additional 288 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Swift Transportation by 58.2% in the second quarter. Riverhead Capital Management LLC now owns 5,063 shares of the transportation company’s stock worth $187,000 after buying an additional 1,863 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Swift Transportation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,385 shares of the transportation company’s stock worth $200,000 after buying an additional 807 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Swift Transportation in the second quarter worth about $202,000. Finally, Capital One National Association purchased a new position in shares of Swift Transportation in the second quarter worth about $212,000.
In other Swift Transportation news, 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 sale was disclosed in a document filed with the SEC, which is available through this link. 9.90% of the stock is currently owned by insiders.
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Several research analysts have recently commented on the company. Barclays PLC lifted their price objective on Swift Transportation from $33.00 to $37.00 and gave the stock an “underweight” rating in a report on Monday, October 2nd. UBS AG decreased their price objective on Swift Transportation from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. BidaskClub cut Swift Transportation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research cut Swift Transportation from a “buy” rating to a “hold” rating in a research note on Saturday, July 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. Swift Transportation presently has a consensus rating of “Buy” and a consensus price target of $41.13.
Swift Transportation Company (NYSE:KNX) opened at $38.38 on Friday. Swift Transportation Company has a 1-year low of $26.68 and a 1-year high of $44.45. The firm has a market cap of $6,815.64, a P/E ratio of 28.79 and a beta of 2.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.32 and a quick ratio of 1.41.
Swift Transportation (NYSE:KNX) last announced its earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The company had revenue of $521.61 million for the quarter, compared to analysts’ expectations of $1.33 billion. Swift Transportation had a net margin of 2.44% and a return on equity of 7.48%. During the same quarter in the prior year, the firm posted $0.34 earnings per share. analysts anticipate that Swift Transportation Company will post 1.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.63%.
Swift Transportation Company 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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