Great West Life Assurance Co. Can decreased its position in Forward Air Co. (NASDAQ:FWRD) by 4.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 36,974 shares of the transportation company’s stock after selling 1,739 shares during the period. Great West Life Assurance Co. Can’s holdings in Forward Air were worth $2,185,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Forward Air by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,295,515 shares of the transportation company’s stock valued at $76,539,000 after buying an additional 27,013 shares in the last quarter. Legal & General Group Plc increased its holdings in Forward Air by 4.7% in the second quarter. Legal & General Group Plc now owns 64,766 shares of the transportation company’s stock valued at $3,821,000 after buying an additional 2,912 shares in the last quarter. BlackRock Inc. increased its holdings in Forward Air by 8.3% in the second quarter. BlackRock Inc. now owns 4,070,423 shares of the transportation company’s stock valued at $240,480,000 after buying an additional 312,075 shares in the last quarter. Sun Life Financial INC purchased a new position in Forward Air in the second quarter valued at $142,000. Finally, Martingale Asset Management L P increased its holdings in Forward Air by 18.0% in the second quarter. Martingale Asset Management L P now owns 82,425 shares of the transportation company’s stock valued at $4,870,000 after buying an additional 12,602 shares in the last quarter. 95.08% of the stock is owned by institutional investors.

In other news, Chairman Bruce A. Campbell sold 8,627 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $65.57, for a total transaction of $565,672.39. Following the completion of the sale, the chairman now owns 137,866 shares of the company’s stock, valued at $9,039,873.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bruce A. Campbell sold 8,523 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $64.51, for a total transaction of $549,818.73. Following the sale, the chairman now directly owns 138,175 shares of the company’s stock, valued at approximately $8,913,669.25. The disclosure for this sale can be found here. Insiders have sold 50,417 shares of company stock valued at $3,213,107 in the last three months. Corporate insiders own 1.95% of the company’s stock.

FWRD has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Forward Air from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, June 12th. ValuEngine raised shares of Forward Air from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. BidaskClub cut shares of Forward Air from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. Stifel Nicolaus cut shares of Forward Air from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a report on Tuesday, July 10th. They noted that the move was a valuation call. Finally, Deutsche Bank initiated coverage on shares of Forward Air in a report on Tuesday, September 4th. They issued a “buy” rating and a $72.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.17.

FWRD stock opened at $68.12 on Tuesday. The stock has a market cap of $2.01 billion, a PE ratio of 25.70 and a beta of 1.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.78. Forward Air Co. has a 52 week low of $49.88 and a 52 week high of $68.67.

Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, July 25th. The transportation company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $330.30 million during the quarter, compared to analysts’ expectations of $314.08 million. Forward Air had a net margin of 7.84% and a return on equity of 15.16%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. equities analysts anticipate that Forward Air Co. will post 3.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Thursday, August 23rd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.88%. Forward Air’s dividend payout ratio is currently 25.42%.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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

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