Principal Financial Group Inc. Trims Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Principal Financial Group Inc. trimmed its position in Forward Air Co. (NASDAQ:FWRDGet Rating) by 9.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 181,193 shares of the transportation company’s stock after selling 19,813 shares during the period. Principal Financial Group Inc.’s holdings in Forward Air were worth $16,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Forward Air by 73.5% in the second quarter. CWM LLC now owns 354 shares of the transportation company’s stock worth $33,000 after acquiring an additional 150 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Forward Air in the first quarter worth $45,000. First Horizon Advisors Inc. grew its stake in shares of Forward Air by 5,675.0% in the second quarter. First Horizon Advisors Inc. now owns 693 shares of the transportation company’s stock worth $63,000 after acquiring an additional 681 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Forward Air by 32.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 811 shares of the transportation company’s stock worth $75,000 after acquiring an additional 200 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Forward Air by 48.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,334 shares of the transportation company’s stock worth $123,000 after acquiring an additional 435 shares during the last quarter. 99.33% of the stock is owned by hedge funds and other institutional investors.

Forward Air Trading Up 1.9 %

Forward Air stock opened at $111.39 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.74. Forward Air Co. has a one year low of $84.04 and a one year high of $125.71. The stock has a market capitalization of $2.96 billion, a PE ratio of 15.87 and a beta of 1.15. The business’s fifty day moving average is $100.69 and its 200 day moving average is $97.93.

Forward Air (NASDAQ:FWRDGet Rating) last posted its earnings results on Thursday, October 27th. The transportation company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Forward Air had a return on equity of 29.52% and a net margin of 9.77%. The company had revenue of $510.02 million for the quarter, compared to the consensus estimate of $504.42 million. During the same quarter in the prior year, the company earned $1.14 earnings per share. Forward Air’s revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts predict that Forward Air Co. will post 7.45 EPS for the current year.

Forward Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Wednesday, November 23rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, November 22nd. Forward Air’s dividend payout ratio is 13.68%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FWRD shares. Raymond James cut their target price on Forward Air from $140.00 to $135.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 14th. StockNews.com raised Forward Air from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. Finally, Jefferies Financial Group began coverage on Forward Air in a research report on Monday, October 24th. They set a “buy” rating and a $120.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Forward Air has a consensus rating of “Moderate Buy” and an average target price of $135.29.

Forward Air Profile

(Get Rating)

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.

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

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