Geode Capital Management LLC lowered its position in Swift Transportation Company (NYSE:SWFT) by 10.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 623,239 shares of the transportation company’s stock after selling 74,789 shares during the period. Geode Capital Management LLC owned about 0.47% of Swift Transportation worth $12,801,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC boosted its position in Swift Transportation by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 5,013 shares of the transportation company’s stock worth $103,000 after buying an additional 2,360 shares in the last quarter. James Investment Research Inc. raised its stake in shares of Swift Transportation by 51.5% in the first quarter. James Investment Research Inc. now owns 5,150 shares of the transportation company’s stock worth $106,000 after buying an additional 1,750 shares during the last quarter. Exane Derivatives bought a new stake in shares of Swift Transportation during the first quarter worth $124,000. Ameritas Investment Partners Inc. bought a new stake in shares of Swift Transportation during the first quarter worth $133,000. Finally, New York State Teachers Retirement System raised its stake in shares of Swift Transportation by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 6,600 shares of the transportation company’s stock worth $161,000 after buying an additional 200 shares during the last quarter. 75.98% of the stock is owned by hedge funds and other institutional investors.
Swift Transportation Company (NYSE SWFT) traded up 0.79% during mid-day trading on Friday, hitting $25.66. 290,024 shares of the stock traded hands. Swift Transportation Company has a 12-month low of $18.05 and a 12-month high of $27.23. The stock has a market cap of $3.44 billion, a PE ratio of 32.90 and a beta of 1.96. The company has a 50 day moving average of $25.89 and a 200-day moving average of $23.52.
Swift Transportation (NYSE:SWFT) last announced its earnings results on Monday, July 24th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $1,000 million for the quarter, compared to analyst estimates of $1.02 billion. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Equities research analysts forecast that Swift Transportation Company will post $0.98 earnings per share for the current year.
Several equities research analysts have recently commented on SWFT shares. Vetr lowered shares of Swift Transportation from a “strong-buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Monday, April 10th. Stephens lowered shares of Swift Transportation from an “overweight” rating to an “equal weight” rating in a report on Tuesday, April 11th. Knight Equity restated a “market perform” rating and issued a $27.00 price target (up previously from $14.31) on shares of Swift Transportation in a report on Tuesday, April 11th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Swift Transportation in a research note on Tuesday, April 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Swift Transportation from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $28.18.
In related news, insider Richard Stocking sold 80,000 shares of Swift Transportation stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $24.25, for a total value of $1,940,000.00. Following the transaction, the insider now directly owns 93,902 shares in the company, valued at approximately $2,277,123.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Virginia Henkels sold 20,325 shares of Swift Transportation stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $23.90, for a total transaction of $485,767.50. Following the completion of the transaction, the chief financial officer now owns 53,772 shares in the company, valued at $1,285,150.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,280 shares of company stock worth $5,341,261. Insiders own 44.90% of the company’s stock.
About Swift Transportation
Swift Transportation Company is a multi-faceted transportation services company. As of December 31, 2016, the Company operated fleets of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company’ segments include Truckload, Dedicated, Swift Refrigerated and Intermodal.
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