JPMorgan Chase & Co. cut its position in shares of Swift Transportation Co. (NYSE:SWFT) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 274,837 shares of the company’s stock after selling 18,877 shares during the period. JPMorgan Chase & Co. owned 0.20% of Swift Transportation worth $4,236,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in Swift Transportation by 22.1% in the second quarter. Ameriprise Financial Inc. now owns 2,290,030 shares of the company’s stock worth $35,289,000 after buying an additional 413,899 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Swift Transportation by 23.5% in the second quarter. Janney Montgomery Scott LLC now owns 27,458 shares of the company’s stock worth $379,000 after buying an additional 5,226 shares in the last quarter. Glenmede Trust Co. NA raised its position in Swift Transportation by 30.6% in the second quarter. Glenmede Trust Co. NA now owns 1,721,613 shares of the company’s stock worth $26,529,000 after buying an additional 403,473 shares in the last quarter. First Trust Advisors LP acquired a new position in Swift Transportation during the second quarter worth approximately $1,044,000. Finally, GSA Capital Partners LLP raised its position in Swift Transportation by 56.8% in the second quarter. GSA Capital Partners LLP now owns 88,769 shares of the company’s stock worth $1,368,000 after buying an additional 32,169 shares in the last quarter. Institutional investors own 74.70% of the company’s stock.
Shares of Swift Transportation Co. (NYSE:SWFT) traded down 1.14% during mid-day trading on Friday, hitting $19.88. 2,810,173 shares of the company’s stock traded hands. The stock has a market cap of $2.65 billion, a P/E ratio of 15.12 and a beta of 2.23. Swift Transportation Co. has a 1-year low of $11.74 and a 1-year high of $22.15. The stock has a 50 day moving average price of $20.55 and a 200-day moving average price of $17.99.
Swift Transportation (NYSE:SWFT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Swift Transportation had a net margin of 4.44% and a return on equity of 32.87%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $0.37 EPS. Equities research analysts anticipate that Swift Transportation Co. will post $1.35 EPS for the current fiscal year.
A number of research analysts have recently issued reports on SWFT shares. Avondale Partners lowered shares of Swift Transportation from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $15.00 to $12.50 in a research note on Thursday, June 23rd. Zacks Investment Research lowered shares of Swift Transportation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Morgan Stanley reiterated an “overweight” rating on shares of Swift Transportation in a research note on Wednesday, June 29th. Citigroup Inc. dropped their price target on shares of Swift Transportation from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. Finally, Deutsche Bank AG set a $19.00 price target on shares of Swift Transportation and gave the stock a “buy” rating in a research note on Thursday, July 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $19.75.
In related news, EVP Timothy W. Guin sold 15,000 shares of the 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 sale, the executive vice president now owns 18,601 shares of the company’s stock, valued at approximately $353,419. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Dozer sold 2,282 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $18.63, for a total transaction of $42,513.66. Following the completion of the sale, the director now directly owns 17,405 shares in the company, valued at approximately $324,255.15. The disclosure for this sale can be found here. 44.90% of the stock is currently 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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