Rothschild Asset Management Inc. decreased its stake in Forward Air Corporation (NASDAQ:FWRD) by 5.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 33,529 shares of the transportation company’s stock after selling 1,752 shares during the period. Rothschild Asset Management Inc.’s holdings in Forward Air Corporation were worth $1,786,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FWRD. Geneva Advisors LLC boosted its position in Forward Air Corporation by 5.8% in the first quarter. Geneva Advisors LLC now owns 27,451 shares of the transportation company’s stock valued at $1,306,000 after buying an additional 1,512 shares in the last quarter. Wells Fargo & Company MN boosted its position in Forward Air Corporation by 1.1% in the first quarter. Wells Fargo & Company MN now owns 136,361 shares of the transportation company’s stock valued at $6,487,000 after buying an additional 1,495 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Forward Air Corporation by 27.0% in the first quarter. Russell Investments Group Ltd. now owns 164,238 shares of the transportation company’s stock valued at $7,812,000 after buying an additional 34,872 shares in the last quarter. Profit Investment Management LLC boosted its position in Forward Air Corporation by 10.9% in the first quarter. Profit Investment Management LLC now owns 57,013 shares of the transportation company’s stock valued at $2,712,000 after buying an additional 5,618 shares in the last quarter. Finally, Cardinal Capital Management boosted its position in Forward Air Corporation by 1.3% in the first quarter. Cardinal Capital Management now owns 19,103 shares of the transportation company’s stock valued at $909,000 after buying an additional 240 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Forward Air Corporation (FWRD) opened at 51.21 on Wednesday. Forward Air Corporation has a 12-month low of $40.07 and a 12-month high of $56.52. The company has a market cap of $1.55 billion, a PE ratio of 26.78 and a beta of 1.06. The company has a 50 day moving average of $52.94 and a 200-day moving average of $50.41.

Forward Air Corporation (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. The company had revenue of $267.50 million for the quarter, compared to the consensus estimate of $256.98 million. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Equities research analysts anticipate that Forward Air Corporation will post $2.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.17%. Forward Air Corporation’s dividend payout ratio (DPR) is 31.25%.

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A number of research firms recently commented on FWRD. BidaskClub raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Stifel Nicolaus lifted their price target on shares of Forward Air Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Zacks Investment Research cut shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, Wolfe Research cut shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.75.

In related news, Director C Robert Campbell sold 1,718 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $52.99, for a total transaction of $91,036.82. Following the transaction, the director now owns 19,652 shares in the company, valued at $1,041,359.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael P. Mclean sold 3,333 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $50.33, for a total transaction of $167,749.89. Following the transaction, the chief accounting officer now owns 21,718 shares in the company, valued at approximately $1,093,066.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,628 shares of company stock worth $3,028,816. 2.40% of the stock is owned by insiders.

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

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