Victory Capital Management Inc. Raises Position in Forward Air Co. (FWRD)

Victory Capital Management Inc. raised its holdings in Forward Air Co. (NASDAQ:FWRD) by 15.0% in the 1st quarter, Holdings Channel reports. The fund owned 1,201,653 shares of the transportation company’s stock after acquiring an additional 157,120 shares during the period. Victory Capital Management Inc.’s holdings in Forward Air were worth $77,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC acquired a new position in Forward Air in the 4th quarter valued at $42,000. Bank of Montreal Can raised its holdings in Forward Air by 13.2% in the 4th quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock valued at $98,000 after acquiring an additional 208 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Forward Air in the 4th quarter valued at $99,000. Brinker Capital Inc. acquired a new position in Forward Air in the 1st quarter valued at $263,000. Finally, Amalgamated Bank acquired a new position in Forward Air in the 4th quarter valued at $252,000. Institutional investors own 97.81% of the company’s stock.

Several research analysts have weighed in on FWRD shares. BidaskClub upgraded Forward Air from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. ValuEngine upgraded Forward Air from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Deutsche Bank boosted their price target on Forward Air from $73.00 to $75.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Zacks Investment Research upgraded Forward Air from a “sell” rating to a “hold” rating in a report on Monday, January 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $69.25.

FWRD stock opened at $62.03 on Friday. The firm has a market cap of $1.78 billion, a PE ratio of 19.88 and a beta of 1.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.73 and a quick ratio of 1.73. Forward Air Co. has a 52 week low of $51.54 and a 52 week high of $72.81.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $321.47 million during the quarter, compared to the consensus estimate of $324.22 million. Forward Air had a return on equity of 16.88% and a net margin of 6.92%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. On average, analysts forecast that Forward Air Co. will post 3.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. Forward Air’s payout ratio is 23.08%.

In other news, Chairman Bruce A. Campbell sold 8,240 shares of the company’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $65.20, for a total transaction of $537,248.00. Following the completion of the sale, the chairman now directly owns 93,732 shares in the company, valued at approximately $6,111,326.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Bruce A. Campbell sold 18,208 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $66.05, for a total value of $1,202,638.40. Following the sale, the chairman now owns 120,088 shares of the company’s stock, valued at $7,931,812.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,087 shares of company stock valued at $2,842,670. Insiders own 2.04% of the company’s stock.

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Forward Air Company 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 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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