Lucia Wealth Services LLC bought a new position in shares of Forward Air Co. (NASDAQ:FWRD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,575 shares of the transportation company’s stock, valued at approximately $205,000.
Other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new stake in shares of Forward Air during the second quarter worth $52,000. Nisa Investment Advisors LLC boosted its position in shares of Forward Air by 72.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,025 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 850 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Forward Air by 26.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,139 shares of the transportation company’s stock valued at $156,000 after acquiring an additional 658 shares during the last quarter. Bank of Montreal Can lifted its position in Forward Air by 117.1% in the second quarter. Bank of Montreal Can now owns 3,840 shares of the transportation company’s stock valued at $179,000 after buying an additional 2,071 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Forward Air in the second quarter valued at about $198,000. 95.00% of the stock is owned by institutional investors and hedge funds.
In other Forward Air news, insider Kyle R. Mitchin sold 4,793 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $59.76, for a total value of $286,429.68. 1.50% of the stock is currently owned by company insiders.
Shares of NASDAQ FWRD traded down $1.99 during mid-day trading on Tuesday, hitting $72.50. 10 shares of the company were exchanged, compared to its average volume of 169,179. The company has a quick ratio of 1.68, a current ratio of 1.50 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $63.28 and a 200-day simple moving average of $54.85. Forward Air Co. has a 1-year low of $39.59 and a 1-year high of $74.70. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 40.05 and a beta of 1.13.
Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Tuesday, November 3rd. The transportation company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.17. Forward Air had a return on equity of 10.39% and a net margin of 3.91%. The firm had revenue of $331.99 million during the quarter, compared to the consensus estimate of $327.50 million. During the same period last year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts anticipate that Forward Air Co. will post 2.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $0.84 dividend on an annualized basis and a yield of 1.16%. This is an increase from Forward Air’s previous quarterly dividend of $0.18. Forward Air’s dividend payout ratio (DPR) is 23.68%.
FWRD has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Forward Air from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday, November 2nd. TheStreet upgraded shares of Forward Air from a “c+” rating to a “b” rating in a research note on Thursday, September 10th. Raymond James increased their price objective on Forward Air from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, November 2nd. Zacks Investment Research raised Forward Air from a “hold” rating to a “strong-buy” rating and set a $72.00 price objective for the company in a report on Friday, October 23rd. Finally, BidaskClub raised Forward Air from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Forward Air currently has a consensus rating of “Buy” and an average target price of $66.60.
Forward Air Profile
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 three segments: Expedited Freight, Intermodal, and Pool Distribution. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.
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