Bessemer Group Inc. Continues to Hold Stake in Forward Air Corporation (NASDAQ:FWRD)
Bessemer Group Inc. continued to hold its position in Forward Air Corporation (NASDAQ:FWRD) during the second quarter, Holdings Channel reports. The institutional investor owned 35,100 shares of the transportation company’s stock at the end of the second quarter. Bessemer Group Inc.’s holdings in Forward Air Corporation were worth $1,870,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of FWRD. BlackRock Inc. raised its position in Forward Air Corporation by 157,904.2% in the first quarter. BlackRock Inc. now owns 3,803,161 shares of the transportation company’s stock worth $180,917,000 after buying an additional 3,800,754 shares in the last quarter. Geneva Advisors LLC raised 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 worth $1,306,000 after buying an additional 1,512 shares in the last quarter. First National Bank of Omaha raised its position in Forward Air Corporation by 31.0% in the first quarter. First National Bank of Omaha now owns 31,024 shares of the transportation company’s stock worth $1,476,000 after buying an additional 7,345 shares in the last quarter. First Trust Advisors LP raised its position in Forward Air Corporation by 5.8% in the first quarter. First Trust Advisors LP now owns 17,813 shares of the transportation company’s stock worth $847,000 after buying an additional 983 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Forward Air Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,678,842 shares of the transportation company’s stock worth $127,433,000 after buying an additional 114,244 shares in the last quarter. 99.04% of the stock is owned by institutional investors.
Shares of Forward Air Corporation (NASDAQ:FWRD) opened at 50.84 on Friday. The firm has a market cap of $1.54 billion, a PE ratio of 26.59 and a beta of 1.06. The stock’s 50 day moving average is $52.78 and its 200-day moving average is $50.48. Forward Air Corporation has a 52 week low of $40.07 and a 52 week high of $56.52.
Forward Air Corporation (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The business had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $256.98 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities analysts predict that Forward Air Corporation will post $2.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, August 23rd. Forward Air Corporation’s dividend payout ratio (DPR) is presently 31.25%.
TRADEMARK VIOLATION NOTICE: This article was originally published by Daily Political and is owned by of Daily Political. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.dailypolitical.com/2017/08/11/bessemer-group-inc-continues-to-hold-stake-in-forward-air-corporation-nasdaqfwrd.html.
A number of equities analysts have issued reports on FWRD shares. Zacks Investment Research lowered shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Wolfe Research cut shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Stifel Nicolaus raised their price objective on shares of Forward Air Corporation from $14.50 to $15.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. One equities 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 an average target price of $51.25.
In other news, Chairman Bruce A. Campbell sold 20,529 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $51.64, for a total transaction of $1,060,117.56. Following the completion of the sale, the chairman now owns 203,235 shares in the company, valued at $10,495,055.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael P. Mclean sold 3,333 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $52.00, for a total value of $173,316.00. Following the sale, the chief accounting officer now owns 21,718 shares of the company’s stock, valued at approximately $1,129,336. The disclosure for this sale can be found here. Insiders have sold 55,295 shares of company stock valued at $2,861,066 in the last 90 days. Company 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.
Want to see what other hedge funds are holding FWRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forward Air Corporation (NASDAQ:FWRD).
Receive News & Ratings for Forward Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air Corporation and related companies with MarketBeat.com's FREE daily email newsletter.