SG Americas Securities LLC cut its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 45.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,306 shares of the transportation company’s stock after selling 8,598 shares during the period. SG Americas Securities LLC’s holdings in Forward Air were worth $592,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its holdings in Forward Air by 144.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 15,391 shares of the transportation company’s stock worth $820,000 after purchasing an additional 9,092 shares during the last quarter. California Public Employees Retirement System raised its holdings in Forward Air by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 58,400 shares of the transportation company’s stock worth $3,112,000 after purchasing an additional 3,200 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Forward Air by 10.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 69,624 shares of the transportation company’s stock worth $3,710,000 after purchasing an additional 6,761 shares during the last quarter. Voya Investment Management LLC raised its holdings in Forward Air by 10.9% during the 2nd quarter. Voya Investment Management LLC now owns 13,706 shares of the transportation company’s stock worth $730,000 after purchasing an additional 1,346 shares during the last quarter. Finally, State Street Corp raised its holdings in Forward Air by 1.4% during the 2nd quarter. State Street Corp now owns 785,118 shares of the transportation company’s stock worth $41,835,000 after purchasing an additional 10,471 shares during the last quarter. Institutional investors and hedge funds own 94.32% of the company’s stock.
Several research analysts have issued reports on FWRD shares. Stifel Nicolaus raised their price target on shares of Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research lowered shares of Forward Air from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Cowen restated a “market perform” rating and set a $54.00 price target (up previously from $51.00) on shares of Forward Air in a report on Monday, October 30th. BidaskClub upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Stephens restated a “buy” rating and set a $80.00 price target on shares of Forward Air in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.40.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $306.10 million during the quarter, compared to analyst estimates of $301.47 million. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. Forward Air’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. analysts expect that Forward Air Co. will post 3.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Thursday, March 8th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.10%. Forward Air’s dividend payout ratio is currently 20.76%.
In other news, CEO Bruce A. Campbell sold 500 shares of Forward Air stock in a transaction on Friday, November 24th. The shares were sold at an average price of $55.45, for a total value of $27,725.00. Following the completion of the sale, the chief executive officer now owns 153,454 shares in the company, valued at approximately $8,509,024.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bruce A. Campbell sold 28,744 shares of Forward Air stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.25, for a total transaction of $1,616,850.00. The disclosure for this sale can be found here. Insiders sold a total of 57,628 shares of company stock valued at $3,271,559 in the last quarter. 2.40% of the stock is currently owned by company insiders.
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Forward Air Profile
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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