California Public Employees Retirement System grew its holdings in Forward Air Co. (NASDAQ:FWRD) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,650 shares of the transportation company’s stock after acquiring an additional 5,132 shares during the quarter. California Public Employees Retirement System owned 0.22% of Forward Air worth $3,713,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of FWRD. Crossmark Global Holdings Inc. acquired a new stake in Forward Air in the third quarter worth about $306,000. Stevens Capital Management LP acquired a new stake in Forward Air in the third quarter worth about $239,000. Prudential Financial Inc. boosted its holdings in Forward Air by 5.1% in the third quarter. Prudential Financial Inc. now owns 55,927 shares of the transportation company’s stock worth $3,201,000 after acquiring an additional 2,710 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Forward Air by 59.3% in the third quarter. BNP Paribas Arbitrage SA now owns 16,299 shares of the transportation company’s stock worth $933,000 after acquiring an additional 6,068 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Forward Air by 19.8% in the third quarter. New York State Common Retirement Fund now owns 38,210 shares of the transportation company’s stock worth $2,187,000 after purchasing an additional 6,310 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.
Forward Air Co. (FWRD) opened at $55.78 on Friday. Forward Air Co. has a 12 month low of $45.86 and a 12 month high of $64.80. The stock has a market capitalization of $1,641.05, a PE ratio of 19.30 and a beta of 1.24. The company has a quick ratio of 2.68, a current ratio of 2.71 and a debt-to-equity ratio of 0.08.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Forward Air had a return on equity of 13.91% and a net margin of 7.93%. The firm had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $301.47 million. During the same period last year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. research analysts anticipate that Forward Air Co. will post 2.99 EPS for the current year.
The company 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. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, March 7th. Forward Air’s payout ratio is 20.76%.
Several research analysts have recently issued reports on FWRD shares. Stephens restated a “buy” rating and issued a $80.00 price objective on shares of Forward Air in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Tuesday, January 9th. BidaskClub upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Robert W. Baird upgraded Forward Air from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $61.40.
In related news, Director George M. Lynch sold 2,443 shares of Forward Air stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $55.47, for a total transaction of $135,513.21. Following the completion of the transaction, the director now directly owns 9,940 shares in the company, valued at $551,371.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by company insiders.
About Forward Air
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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