Geneva Advisors LLC Acquires 1,690 Shares of Forward Air Corporation (FWRD)
Geneva Advisors LLC raised its stake in Forward Air Corporation (NASDAQ:FWRD) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,141 shares of the transportation company’s stock after buying an additional 1,690 shares during the period. Geneva Advisors LLC owned about 0.10% of Forward Air Corporation worth $1,553,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the company. Huntington National Bank increased its stake in Forward Air Corporation by 8.1% in the second quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock valued at $117,000 after buying an additional 165 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Forward Air Corporation during the first quarter valued at approximately $114,000. US Bancorp DE increased its stake in Forward Air Corporation by 22.6% in the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after buying an additional 445 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in Forward Air Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,482 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,168 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Forward Air Corporation during the second quarter valued at approximately $158,000. 98.36% of the stock is owned by institutional investors.
Shares of Forward Air Corporation (FWRD) opened at 50.97 on Friday. The stock has a 50 day moving average of $52.11 and a 200-day moving average of $50.65. The firm has a market capitalization of $1.54 billion, a PE ratio of 26.66 and a beta of 1.06. Forward Air Corporation has a 52 week low of $40.07 and a 52 week high of $56.52.
Forward Air Corporation (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $267.50 million during the quarter, compared to the consensus estimate of $256.98 million. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. Equities analysts anticipate that Forward Air Corporation will post $2.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. Forward Air Corporation’s dividend payout ratio (DPR) is presently 31.25%.
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Several research firms have commented on FWRD. Cowen and Company reissued a “hold” rating and issued a $51.00 target price on shares of Forward Air Corporation in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Forward Air Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, Wolfe Research downgraded shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Forward Air Corporation has a consensus rating of “Hold” and a consensus price target of $51.25.
In other Forward Air Corporation news, CAO Michael P. Mclean sold 15,718 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.05, for a total value of $802,403.90. Following the completion of the transaction, the chief accounting officer now owns 20,559 shares in the company, valued at approximately $1,049,536.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael P. Mclean sold 2,495 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $52.00, for a total value of $129,740.00. Following the completion of the transaction, the chief accounting officer now owns 20,880 shares of the company’s stock, valued at approximately $1,085,760. The disclosure for this sale can be found here. Insiders sold a total of 30,969 shares of company stock valued at $1,603,504 in the last 90 days. Corporate 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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