Marks Group Wealth Management Inc Has $5.54 Million Holdings in Forward Air Co. (NASDAQ:FWRD)

Marks Group Wealth Management Inc reduced its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 4.2% in the second quarter, Holdings Channel reports. The fund owned 61,529 shares of the transportation company’s stock after selling 2,717 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Forward Air were worth $5,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FWRD. JPMorgan Chase & Co. grew its holdings in shares of Forward Air by 93.5% during the 1st quarter. JPMorgan Chase & Co. now owns 247,273 shares of the transportation company’s stock valued at $21,960,000 after purchasing an additional 119,475 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Forward Air by 8.6% during the 1st quarter. Neuberger Berman Group LLC now owns 1,252,617 shares of the transportation company’s stock valued at $111,245,000 after purchasing an additional 99,181 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Forward Air during the 1st quarter valued at about $5,000,000. Scopus Asset Management L.P. purchased a new position in Forward Air during the 1st quarter valued at about $4,697,000. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in Forward Air in the first quarter worth about $4,555,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Several equities analysts have recently commented on FWRD shares. Raymond James boosted their target price on shares of Forward Air from $120.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 13th. TheStreet raised shares of Forward Air from a “c+” rating to a “b-” rating in a research note on Wednesday, August 11th. Finally, Zacks Investment Research raised shares of Forward Air from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Tuesday, June 15th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Forward Air has an average rating of “Buy” and an average price target of $97.50.

FWRD traded up $2.62 on Wednesday, hitting $84.74. The company had a trading volume of 1,283 shares, compared to its average volume of 129,088. Forward Air Co. has a 1 year low of $53.28 and a 1 year high of $100.93. The firm has a market cap of $2.30 billion, a P/E ratio of 42.33 and a beta of 1.14. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average price is $87.92 and its 200 day moving average price is $90.11.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, July 28th. The transportation company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.14. Forward Air had a return on equity of 14.49% and a net margin of 3.69%. On average, analysts predict that Forward Air Co. will post 3.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Friday, August 20th were issued a $0.21 dividend. The ex-dividend date was Thursday, August 19th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.99%. Forward Air’s dividend payout ratio (DPR) is 44.44%.

Forward Air Profile

Forward Air Corp. engages in the provision of less-than-truckload (LTL), truckload, intermodal and pool distribution services. It operates through the following segments: Expedited LTL and Intermodal. The Expedited LTL segment provides expedited regional, inter-regional and national LTL, final mile and truckload services.

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

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