O Shaughnessy Asset Management LLC bought a new position in Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 774 shares of the transportation company’s stock, valued at approximately $42,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Forward Air by 9.4% during the 3rd quarter. First Trust Advisors LP now owns 30,059 shares of the transportation company’s stock valued at $2,155,000 after acquiring an additional 2,577 shares during the last quarter. US Bancorp DE boosted its position in shares of Forward Air by 37.8% during the 3rd quarter. US Bancorp DE now owns 6,502 shares of the transportation company’s stock valued at $466,000 after acquiring an additional 1,783 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Forward Air by 188.1% during the 3rd quarter. Prudential Financial Inc. now owns 161,213 shares of the transportation company’s stock valued at $11,559,000 after acquiring an additional 105,246 shares during the last quarter. EAM Investors LLC bought a new stake in shares of Forward Air during the 3rd quarter valued at about $1,359,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Forward Air by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 434,869 shares of the transportation company’s stock valued at $31,180,000 after acquiring an additional 5,665 shares during the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.
A number of analysts have recently issued reports on FWRD shares. Zacks Investment Research downgraded Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. BidaskClub downgraded Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, ValuEngine upgraded Forward Air from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.75.
Shares of FWRD opened at $64.34 on Friday. The stock has a market cap of $1.81 billion, a PE ratio of 20.62 and a beta of 1.63. The company has a quick ratio of 2.66, a current ratio of 2.69 and a debt-to-equity ratio of 0.09. Forward Air Co. has a 12-month low of $51.00 and a 12-month high of $72.81.
Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, February 7th. The transportation company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.12. The company had revenue of $356.60 million during the quarter, compared to the consensus estimate of $347.16 million. Forward Air had a return on equity of 16.97% and a net margin of 6.97%. Forward Air’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. On average, equities analysts forecast that Forward Air Co. will post 3.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $0.72 dividend on an annualized basis and a yield of 1.12%. Forward Air’s dividend payout ratio (DPR) is currently 23.08%.
In other news, COO Chris C. Ruble sold 7,926 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $65.12, for a total value of $516,141.12. Following the completion of the transaction, the chief operating officer now owns 31,489 shares of the company’s stock, valued at approximately $2,050,563.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Chris C. Ruble sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $68.10, for a total value of $136,200.00. Following the completion of the transaction, the chief operating officer now directly owns 26,363 shares of the company’s stock, valued at approximately $1,795,320.30. The disclosure for this sale can be found here. Insiders sold a total of 43,087 shares of company stock worth $2,842,670 over the last ninety days. Insiders own 1.95% of the company’s stock.
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About Forward Air
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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