Icon Advisers Inc. Co. acquired a new position in Forward Air Co. (NASDAQ:FWRD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,100 shares of the transportation company’s stock, valued at approximately $509,000.

A number of other hedge funds have also recently modified their holdings of the business. Radnor Capital Management LLC grew its position in shares of Forward Air by 11.2% during the 3rd quarter. Radnor Capital Management LLC now owns 7,560 shares of the transportation company’s stock valued at $542,000 after acquiring an additional 760 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of Forward Air by 22.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the transportation company’s stock valued at $293,000 after acquiring an additional 1,000 shares during the period. Summit Global Investments grew its position in shares of Forward Air by 13.0% during the 2nd quarter. Summit Global Investments now owns 11,300 shares of the transportation company’s stock valued at $668,000 after acquiring an additional 1,300 shares during the period. US Bancorp DE grew its position in shares of Forward Air by 37.8% during the 3rd quarter. US Bancorp DE now owns 6,502 shares of the transportation company’s stock valued at $466,000 after acquiring an additional 1,783 shares during the period. Finally, UBS Group AG grew its position in shares of Forward Air by 4.5% during the 1st quarter. UBS Group AG now owns 42,874 shares of the transportation company’s stock valued at $2,267,000 after acquiring an additional 1,833 shares during the period. 94.12% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on FWRD shares. BidaskClub downgraded shares of Forward Air from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. ValuEngine raised shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Deutsche Bank started coverage on shares of Forward Air in a research report on Tuesday, September 4th. They set a “buy” rating and a $72.00 target price for the company. Stifel Nicolaus increased their target price on shares of Forward Air from $64.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research downgraded shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $68.75.

Shares of FWRD stock opened at $61.38 on Friday. The company has a market cap of $1.84 billion, a P/E ratio of 22.20 and a beta of 1.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.66 and a current ratio of 2.66. Forward Air Co. has a 12 month low of $49.88 and a 12 month high of $72.81.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.80 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.80. The company had revenue of $331.38 million for the quarter, compared to analysts’ expectations of $327.81 million. Forward Air had a net margin of 7.85% and a return on equity of 15.63%. As a group, research analysts forecast that Forward Air Co. will post 3.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be paid a dividend of $0.18 per share. This is a boost from Forward Air’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Wednesday, November 21st. Forward Air’s dividend payout ratio is presently 25.42%.

In related news, Chairman Bruce A. Campbell sold 8,790 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $64.53, for a total transaction of $567,218.70. Following the sale, the chairman now directly owns 138,442 shares in the company, valued at approximately $8,933,662.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George M. Lynch sold 1,965 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $60.52, for a total transaction of $118,921.80. Following the sale, the director now owns 9,972 shares in the company, valued at $603,505.44. The disclosure for this sale can be found here. Insiders have sold a total of 35,985 shares of company stock worth $2,310,672 over the last 90 days. 1.95% of the stock is currently owned by corporate insiders.

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Forward Air Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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

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