Wells Fargo & Company MN grew its position in Forward Air Co. (NASDAQ:FWRD) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 143,662 shares of the transportation company’s stock after purchasing an additional 9,363 shares during the period. Wells Fargo & Company MN owned about 0.48% of Forward Air worth $8,222,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Citadel Advisors LLC boosted its stake in shares of Forward Air by 58.8% in the 3rd quarter. Citadel Advisors LLC now owns 55,503 shares of the transportation company’s stock valued at $3,176,000 after purchasing an additional 20,552 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Forward Air by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,544 shares of the transportation company’s stock worth $2,190,000 after buying an additional 4,968 shares in the last quarter. Legal & General Group Plc lifted its position in Forward Air by 4.5% during the 3rd quarter. Legal & General Group Plc now owns 61,860 shares of the transportation company’s stock worth $3,540,000 after buying an additional 2,676 shares in the last quarter. Nordea Investment Management AB lifted its position in Forward Air by 1.7% during the 3rd quarter. Nordea Investment Management AB now owns 131,611 shares of the transportation company’s stock worth $7,532,000 after buying an additional 2,146 shares in the last quarter. Finally, American International Group Inc. lifted its position in Forward Air by 5.8% during the 3rd quarter. American International Group Inc. now owns 23,811 shares of the transportation company’s stock worth $1,363,000 after buying an additional 1,301 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.

Forward Air Co. (NASDAQ:FWRD) opened at $57.44 on Friday. The stock has a market cap of $1,728.87, a PE ratio of 25.36 and a beta of 1.18. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. Forward Air Co. has a 52-week low of $45.86 and a 52-week high of $59.97.

Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. The company had revenue of $280.20 million for the quarter, compared to the consensus estimate of $278.75 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. analysts forecast that Forward Air Co. will post 2.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. Forward Air’s payout ratio is presently 28.17%.

In other Forward Air news, Chairman Bruce A. Campbell sold 28,744 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.25, for a total transaction of $1,616,850.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Chris C. Ruble sold 23,020 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $57.75, for a total transaction of $1,329,405.00. Following the transaction, the insider now owns 28,279 shares in the company, valued at $1,633,112.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,549 shares of company stock worth $5,250,836. Corporate insiders own 2.40% of the company’s stock.

FWRD has been the topic of several research reports. KeyCorp reiterated a “hold” rating on shares of Forward Air in a research report on Friday, September 22nd. Robert W. Baird reiterated a “hold” rating and set a $60.00 price target on shares of Forward Air in a research report on Friday, October 6th. Stifel Nicolaus upped their price target on shares of Forward Air from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Finally, Cowen reiterated a “market perform” rating and set a $54.00 price target (up previously from $51.00) on shares of Forward Air in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $55.33.

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Forward Air 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 (NASDAQ:FWRD)

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