Swift Transportation Company (KNX) Holdings Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in Swift Transportation Company (NYSE:KNX) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,373 shares of the transportation company’s stock after selling 83 shares during the period. PNC Financial Services Group Inc.’s holdings in Swift Transportation were worth $680,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Profund Advisors LLC raised its position in shares of Swift Transportation by 9.1% in the 2nd quarter. Profund Advisors LLC now owns 12,951 shares of the transportation company’s stock valued at $480,000 after purchasing an additional 1,080 shares in the last quarter. Formidable Asset Management LLC raised its position in shares of Swift Transportation by 2.4% in the 2nd quarter. Formidable Asset Management LLC now owns 30,944 shares of the transportation company’s stock valued at $1,146,000 after purchasing an additional 737 shares in the last quarter. Amalgamated Bank raised its position in shares of Swift Transportation by 13.3% in the 2nd quarter. Amalgamated Bank now owns 10,040 shares of the transportation company’s stock valued at $372,000 after purchasing an additional 1,176 shares in the last quarter. BlackRock Inc. raised its position in shares of Swift Transportation by 1.7% in the 2nd quarter. BlackRock Inc. now owns 8,031,762 shares of the transportation company’s stock valued at $297,576,000 after purchasing an additional 133,297 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Swift Transportation by 3.0% in the 2nd quarter. Nationwide Fund Advisors now owns 68,268 shares of the transportation company’s stock valued at $2,529,000 after purchasing an additional 1,967 shares in the last quarter.

In related news, General Counsel Todd F. Carlson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the transaction, the general counsel now owns 23,638 shares in the company, valued at approximately $894,934.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director G D. Madden sold 1,875 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.52, for a total value of $68,475.00. Following the transaction, the director now owns 56,011 shares of the company’s stock, valued at approximately $2,045,521.72. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

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A number of equities analysts have issued reports on KNX shares. Buckingham Research started coverage on Swift Transportation in a research report on Monday, August 21st. They issued a “buy” rating and a $43.00 target price on the stock. Deutsche Bank AG set a $45.00 target price on Swift Transportation and gave the company a “buy” rating in a research report on Monday, July 31st. UBS AG upped their target price on Swift Transportation from $43.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Seaport Global Securities reaffirmed a “buy” rating on shares of Swift Transportation in a research report on Thursday, September 21st. Finally, Citigroup Inc. began coverage on Swift Transportation in a research report on Tuesday, September 19th. They set a “buy” rating and a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.41.

Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The business had revenue of $273.20 million during the quarter, compared to the consensus estimate of $283.88 million. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. Swift Transportation’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.59%.

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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Institutional Ownership by Quarter for Swift Transportation (NYSE:KNX)

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