First Mercantile Trust Co. lowered its stake in shares of Swift Transportation Co. (NYSE:SWFT) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,376 shares of the company’s stock after selling 459 shares during the period. First Mercantile Trust Co.’s holdings in Swift Transportation were worth $206,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in SWFT. Anchor Bolt Capital LP purchased a new stake in shares of Swift Transportation during the first quarter valued at $21,223,000. Renaissance Technologies LLC purchased a new stake in shares of Swift Transportation during the first quarter valued at $14,041,000. HBK Investments L P boosted its stake in shares of Swift Transportation by 71.2% in the first quarter. HBK Investments L P now owns 426,562 shares of the company’s stock valued at $7,947,000 after buying an additional 177,362 shares in the last quarter. Pictet Asset Management Ltd. purchased a new stake in shares of Swift Transportation during the first quarter valued at $596,000. Finally, UBS Group AG boosted its stake in shares of Swift Transportation by 35.8% in the first quarter. UBS Group AG now owns 176,286 shares of the company’s stock valued at $3,284,000 after buying an additional 46,429 shares in the last quarter. 74.70% of the stock is currently owned by hedge funds and other institutional investors.
Swift Transportation Co. (NYSE:SWFT) opened at 21.80 on Tuesday. The firm’s 50-day moving average price is $20.02 and its 200-day moving average price is $17.80. The stock has a market cap of $2.91 billion, a P/E ratio of 16.58 and a beta of 2.23. Swift Transportation Co. has a 12 month low of $11.74 and a 12 month high of $22.15.
Swift Transportation (NYSE:SWFT) last posted its earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Swift Transportation had a return on equity of 32.87% and a net margin of 4.44%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, analysts predict that Swift Transportation Co. will post $1.35 earnings per share for the current year.
A number of brokerages recently weighed in on SWFT. Bank of America Corp. restated a “buy” rating and set a $24.00 price objective on shares of Swift Transportation in a research note on Monday, September 12th. Citigroup Inc. upped their price objective on Swift Transportation from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Morgan Stanley restated an “overweight” rating on shares of Swift Transportation in a research note on Wednesday, June 29th. Zacks Investment Research lowered Swift Transportation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Finally, Barclays PLC upped their target price on Swift Transportation from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.75.
In related news, Director Jose A. Cardenas sold 2,000 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $19.60, for a total value of $39,200.00. Following the transaction, the director now owns 11,275 shares in the company, valued at approximately $220,990. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy W. Guin sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $19.00, for a total value of $285,000.00. Following the completion of the transaction, the executive vice president now owns 18,601 shares in the company, valued at approximately $353,419. The disclosure for this sale can be found here. 44.90% of the stock is owned by corporate insiders.
About Swift Transportation
Swift Transportation Company (Swift Transportation Co) is a multi-faceted transportation services company, which operates the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload, Dedicated, Swift Refrigerated and Intermodal.
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