First Trust Advisors LP purchased a new position in shares of Swift Transportation Co. (NYSE:SWFT) during the second quarter, Holdings Channel reports. The firm purchased 67,743 shares of the company’s stock, valued at approximately $1,044,000. First Trust Advisors LP owned 0.05% of Swift Transportation as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of SWFT. Parkwood LLC acquired a new position in Swift Transportation during the second quarter worth approximately $243,000. Aperio Group LLC boosted its position in Swift Transportation by 21.1% in the first quarter. Aperio Group LLC now owns 17,444 shares of the company’s stock worth $325,000 after buying an additional 3,044 shares during the period. IFP Advisors Inc boosted its position in Swift Transportation by 2,702.7% in the first quarter. IFP Advisors Inc now owns 19,002 shares of the company’s stock worth $354,000 after buying an additional 18,324 shares during the period. Pictet Asset Management Ltd. purchased a new position in Swift Transportation during the first quarter worth approximately $596,000. Finally, Nordea Investment Management AB boosted its position in Swift Transportation by 314.7% in the second quarter. Nordea Investment Management AB now owns 38,953 shares of the company’s stock worth $600,000 after buying an additional 29,561 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.
Shares of Swift Transportation Co. (NYSE:SWFT) traded up 0.213% during midday trading on Wednesday, reaching $21.205. 970,168 shares of the company were exchanged. Swift Transportation Co. has a 52-week low of $11.74 and a 52-week high of $22.15. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 16.125 and a beta of 2.23. The company’s 50-day moving average price is $20.10 and its 200 day moving average price is $17.83.
Swift Transportation (NYSE:SWFT) last issued its earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Swift Transportation had a net margin of 4.44% and a return on equity of 32.87%. During the same quarter in the prior year, the business posted $0.37 EPS. On average, equities analysts predict that Swift Transportation Co. will post $1.35 earnings per share for the current year.
A number of research analysts have commented on the company. JPMorgan Chase & Co. restated a “hold” rating on shares of Swift Transportation in a research note on Friday, July 22nd. Zacks Investment Research upgraded Swift Transportation from a “sell” rating to a “hold” rating in a research note on Friday, September 2nd. Barclays PLC upped their price target on Swift Transportation from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. TheStreet upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Finally, Robert W. Baird increased their price objective on Swift Transportation from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. Swift Transportation currently has an average rating of “Buy” and an average target price of $19.75.
In other news, Director Jose A. Cardenas sold 2,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $19.60, for a total value of $39,200.00. Following the sale, the director now owns 11,275 shares in the company, valued at approximately $220,990. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy W. Guin sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $19.00, for a total transaction of $285,000.00. Following the completion of the sale, 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 currently owned by 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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