Oregon Public Employees Retirement Fund bought a new stake in shares of Swift Transportation Company (NYSE:KNX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,307 shares of the transportation company’s stock, valued at approximately $1,966,000.
Several other institutional investors have also recently made changes to their positions in the business. Norris Perne & French LLP MI increased its holdings in shares of Swift Transportation by 0.9% in the third quarter. Norris Perne & French LLP MI now owns 234,707 shares of the transportation company’s stock valued at $9,752,000 after purchasing an additional 2,042 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Swift Transportation in the third quarter valued at approximately $24,893,000. Artemis Investment Management LLP increased its holdings in shares of Swift Transportation by 1,958.7% in the third quarter. Artemis Investment Management LLP now owns 1,152,833 shares of the transportation company’s stock valued at $47,877,000 after purchasing an additional 1,096,835 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Swift Transportation by 6,542.1% in the third quarter. Victory Capital Management Inc. now owns 357,676 shares of the transportation company’s stock valued at $14,861,000 after purchasing an additional 352,291 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Swift Transportation in the third quarter valued at approximately $23,621,000.
Several research firms recently commented on KNX. Zacks Investment Research cut Swift Transportation from a “hold” rating to a “strong sell” rating in a report on Tuesday. Barclays PLC increased their price target on Swift Transportation from $33.00 to $37.00 and gave the company an “underweight” rating in a report on Monday, October 2nd. UBS AG cut their price target on Swift Transportation from $53.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, November 7th. ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Finally, BidaskClub cut Swift Transportation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $41.13.
Swift Transportation Company (KNX) opened at $38.04 on Tuesday. Swift Transportation Company has a 52-week low of $26.68 and a 52-week high of $44.45. The company has a market capitalization of $6,829.07, a price-to-earnings ratio of 28.78 and a beta of 2.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.32.
Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Monday, November 6th. The transportation company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.05). Swift Transportation had a return on equity of 7.48% and a net margin of 2.44%. The firm had revenue of $521.61 million for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. equities research analysts predict that Swift Transportation Company will post 1.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 1st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.63%.
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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