Forward Air Co. (NASDAQ:FWRD) Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its holdings in Forward Air Co. (NASDAQ:FWRD – Get Rating) by 32.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,700 shares of the transportation company’s stock after selling 11,000 shares during the period. TD Asset Management Inc’s holdings in Forward Air were worth $2,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FWRD. BlackRock Inc. increased its holdings in shares of Forward Air by 2.8% in the 3rd quarter. BlackRock Inc. now owns 4,167,575 shares of the transportation company’s stock valued at $376,165,000 after acquiring an additional 113,938 shares during the last quarter. Vanguard Group Inc. increased its stake in Forward Air by 0.9% in the third quarter. Vanguard Group Inc. now owns 2,934,717 shares of the transportation company’s stock valued at $264,887,000 after purchasing an additional 25,141 shares during the last quarter. Ancora Advisors LLC raised its holdings in Forward Air by 18.2% during the first quarter. Ancora Advisors LLC now owns 1,753,799 shares of the transportation company’s stock worth $155,754,000 after purchasing an additional 269,446 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Forward Air by 1.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,348,425 shares of the transportation company’s stock valued at $121,709,000 after buying an additional 23,012 shares in the last quarter. Finally, State Street Corp grew its position in shares of Forward Air by 7.3% in the 1st quarter. State Street Corp now owns 1,056,548 shares of the transportation company’s stock valued at $103,309,000 after buying an additional 72,215 shares during the last quarter. 99.28% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Stock Performance

NASDAQ FWRD opened at $96.69 on Tuesday. The business’s 50-day moving average price is $105.16 and its 200 day moving average price is $105.83. The company has a quick ratio of 1.80, a current ratio of 1.56 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.52 billion, a P/E ratio of 13.93 and a beta of 1.13. Forward Air Co. has a 52-week low of $84.04 and a 52-week high of $117.57.

Forward Air (NASDAQ:FWRD – Get Rating) last released its earnings results on Monday, May 1st. The transportation company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Forward Air had a return on equity of 27.50% and a net margin of 9.66%. The business had revenue of $427.07 million for the quarter, compared to analyst estimates of $460.54 million. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities research analysts expect that Forward Air Co. will post 6.01 earnings per share for the current year.

Forward Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Thursday, May 25th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, May 24th. Forward Air’s dividend payout ratio (DPR) is presently 13.83%.

Insider Activity

In other news, Director Laurie Anne Tucker purchased 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was purchased at an average cost of $101.97 per share, with a total value of $407,880.00. Following the completion of the acquisition, the director now directly owns 10,221 shares of the company’s stock, valued at approximately $1,042,235.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

FWRD has been the subject of a number of research reports. Raymond James reduced their price target on shares of Forward Air from $128.00 to $115.00 in a research report on Wednesday, May 3rd. Stephens reissued an “overweight” rating and issued a $125.00 target price on shares of Forward Air in a report on Wednesday, March 8th. Susquehanna dropped their price target on Forward Air from $138.00 to $125.00 in a research note on Wednesday, May 3rd. Finally, StockNews.com initiated coverage on Forward Air in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.75.

Forward Air Profile

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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.