Forward Air Corporation (FWRD) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of Forward Air Corporation (NASDAQ:FWRD) by 12.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,255,469 shares of the transportation company’s stock after acquiring an additional 139,363 shares during the quarter. Victory Capital Management Inc. owned approximately 4.14% of Forward Air Corporation worth $71,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Pinebridge Investments L.P. boosted its stake in Forward Air Corporation by 0.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,980 shares of the transportation company’s stock valued at $212,000 after acquiring an additional 36 shares during the last quarter. Huntington National Bank boosted its stake in Forward Air Corporation by 8.1% during the 2nd quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock valued at $117,000 after acquiring an additional 165 shares during the last quarter. Texas Permanent School Fund boosted its stake in Forward Air Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 22,060 shares of the transportation company’s stock valued at $1,175,000 after acquiring an additional 173 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Forward Air Corporation by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 56,848 shares of the transportation company’s stock valued at $3,029,000 after acquiring an additional 175 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Forward Air Corporation by 10.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock valued at $140,000 after acquiring an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

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Forward Air Corporation (FWRD) opened at $57.31 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. The stock has a market capitalization of $1.71 billion, a PE ratio of 25.13 and a beta of 1.20.

Forward Air Corporation (NASDAQ:FWRD) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.58. Forward Air Corporation 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 last year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. sell-side analysts forecast that Forward Air Corporation will post 2.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 23rd will be given a $0.15 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.60 annualized dividend and a yield of 1.05%. Forward Air Corporation’s dividend payout ratio is presently 28.17%.

A number of research firms have recently issued reports on FWRD. Cowen and Company restated a “market perform” rating and issued a $54.00 price target (up from $51.00) on shares of Forward Air Corporation in a research report on Monday, October 30th. Zacks Investment Research downgraded shares of Forward Air Corporation from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Stifel Nicolaus raised their price target on shares of Forward Air Corporation from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Robert W. Baird restated a “hold” rating and issued a $60.00 price target on shares of Forward Air Corporation in a research report on Friday, October 6th. Finally, KeyCorp restated a “hold” rating on shares of Forward Air Corporation in a research report on Friday, September 22nd. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $55.33.

In related news, insider Michael P. Mclean sold 4,984 shares of Forward Air Corporation stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $54.82, for a total value of $273,222.88. Following the sale, the insider now directly owns 13,401 shares in the company, valued at approximately $734,642.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.

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

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