Swiss National Bank Has $2,369,000 Stake in Forward Air Corporation (FWRD)
Swiss National Bank maintained its stake in shares of Forward Air Corporation (NASDAQ:FWRD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,800 shares of the transportation company’s stock at the end of the first quarter. Swiss National Bank’s holdings in Forward Air Corporation were worth $2,369,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in FWRD. Elkfork Partners LLC acquired a new stake in shares of Forward Air Corporation during the fourth quarter valued at approximately $106,000. State of Alaska Department of Revenue raised its stake in shares of Forward Air Corporation by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,340 shares of the transportation company’s stock valued at $158,000 after buying an additional 30 shares during the last quarter. Dubuque Bank & Trust Co. acquired a new stake in shares of Forward Air Corporation during the first quarter valued at approximately $238,000. Summit Global Investments acquired a new stake in shares of Forward Air Corporation during the fourth quarter valued at approximately $403,000. Finally, Guggenheim Capital LLC raised its stake in shares of Forward Air Corporation by 61.2% in the fourth quarter. Guggenheim Capital LLC now owns 10,368 shares of the transportation company’s stock valued at $491,000 after buying an additional 3,938 shares during the last quarter. Institutional investors own 98.48% of the company’s stock.
Shares of Forward Air Corporation (FWRD) opened at 52.99 on Tuesday. The company’s 50 day moving average price is $51.98 and its 200 day moving average price is $49.39. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 56.61 and a beta of 1.06. Forward Air Corporation has a 12 month low of $40.07 and a 12 month high of $54.73.
Forward Air Corporation (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, April 26th. The transportation company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The business had revenue of $246.98 million for the quarter, compared to analysts’ expectations of $239.47 million. Forward Air Corporation had a return on equity of 13.06% and a net margin of 2.88%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. On average, equities analysts expect that Forward Air Corporation will post $2.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Thursday, May 25th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, May 23rd. This represents a $0.60 annualized dividend and a yield of 1.13%. Forward Air Corporation’s payout ratio is 63.16%.
Several equities research analysts recently commented on the company. BidaskClub upgraded Forward Air Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded Forward Air Corporation from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, May 31st. Seaport Global Securities assumed coverage on Forward Air Corporation in a research report on Thursday, March 2nd. They set a “neutral” rating on the stock. Stifel Nicolaus upped their target price on Forward Air Corporation from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, TheStreet upgraded Forward Air Corporation from a “c+” rating to a “b” rating in a research report on Monday, February 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.75.
In other Forward Air Corporation news, CAO Michael P. Mclean sold 3,333 shares of Forward Air Corporation stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $50.33, for a total transaction of $167,749.89. Following the sale, the chief accounting officer now directly owns 21,718 shares of the company’s stock, valued at approximately $1,093,066.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Bruce A. Campbell sold 20,529 shares of Forward Air Corporation stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $51.64, for a total value of $1,060,117.56. Following the sale, the chairman now directly owns 203,235 shares in the company, valued at $10,495,055.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,984 shares of company stock worth $4,008,360. Insiders own 2.40% of the company’s stock.
Forward Air Corporation Company Profile
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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