Forward Air Co. (FWRD) Shares Bought by Barclays PLC

Barclays PLC increased its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 54.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,592 shares of the transportation company’s stock after buying an additional 7,638 shares during the quarter. Barclays PLC owned about 0.07% of Forward Air worth $1,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in Forward Air by 22.7% in the fourth quarter. Millennium Management LLC now owns 173,348 shares of the transportation company’s stock valued at $9,957,000 after purchasing an additional 32,092 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Forward Air by 8.6% in the fourth quarter. California Public Employees Retirement System now owns 64,650 shares of the transportation company’s stock valued at $3,713,000 after purchasing an additional 5,132 shares during the last quarter. Advisor Group Inc. boosted its holdings in Forward Air by 138.7% in the fourth quarter. Advisor Group Inc. now owns 2,626 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 1,526 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in Forward Air by 180.7% in the fourth quarter. Pinebridge Investments L.P. now owns 10,555 shares of the transportation company’s stock valued at $606,000 after purchasing an additional 6,795 shares during the last quarter. Finally, Paloma Partners Management Co boosted its holdings in Forward Air by 142.8% in the fourth quarter. Paloma Partners Management Co now owns 8,710 shares of the transportation company’s stock valued at $500,000 after purchasing an additional 5,122 shares during the last quarter. 95.92% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Chris C. Ruble sold 7,969 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $60.50, for a total transaction of $482,124.50. Following the completion of the transaction, the insider now owns 24,756 shares in the company, valued at approximately $1,497,738. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew J. Jewell sold 6,232 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $60.04, for a total transaction of $374,169.28. Following the transaction, the insider now owns 44,169 shares of the company’s stock, valued at approximately $2,651,906.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,198 shares of company stock valued at $1,279,195. Insiders own 1.95% of the company’s stock.

Shares of Forward Air stock opened at $62.38 on Friday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 26.43 and a beta of 1.27. Forward Air Co. has a fifty-two week low of $49.88 and a fifty-two week high of $64.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.56 and a quick ratio of 2.56.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, April 25th. The transportation company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $302.60 million during the quarter, compared to the consensus estimate of $291.73 million. Forward Air had a net margin of 7.85% and a return on equity of 14.41%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. sell-side analysts predict that Forward Air Co. will post 3.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Friday, May 25th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Forward Air’s dividend payout ratio (DPR) is currently 25.42%.

Several research firms have commented on FWRD. Zacks Investment Research lowered shares of Forward Air from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. BidaskClub lowered shares of Forward Air from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 27th. ValuEngine raised shares of Forward Air from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus raised shares of Forward Air from a “hold” rating to a “buy” rating and upped their price target for the company from $62.00 to $64.00 in a report on Thursday, April 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $64.20.

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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Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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