Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Forward Air Co. (NASDAQ:FWRD) by 13.4% in the 1st quarter, Holdings Channel reports. The firm owned 1,753 shares of the transportation company’s stock after selling 271 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Forward Air were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FWRD. O Shaughnessy Asset Management LLC acquired a new stake in shares of Forward Air in the 4th quarter worth approximately $42,000. Bank of Montreal Can lifted its stake in shares of Forward Air by 13.2% in the 4th quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock worth $98,000 after acquiring an additional 208 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Forward Air in the 4th quarter worth approximately $99,000. Amalgamated Bank acquired a new stake in shares of Forward Air in the 4th quarter worth approximately $252,000. Finally, Brinker Capital Inc. acquired a new stake in shares of Forward Air in the 1st quarter worth approximately $263,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

In related news, Chairman Bruce A. Campbell sold 18,208 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $66.05, for a total transaction of $1,202,638.40. Following the completion of the sale, the chairman now directly owns 120,088 shares of the company’s stock, valued at $7,931,812.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Bruce A. Campbell sold 8,240 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $65.20, for a total transaction of $537,248.00. Following the sale, the chairman now directly owns 93,732 shares of the company’s stock, valued at $6,111,326.40. The disclosure for this sale can be found here. 2.04% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Thursday. Deutsche Bank upped their price target on shares of Forward Air from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. BidaskClub raised shares of Forward Air from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. Finally, ValuEngine lowered shares of Forward Air from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Forward Air presently has a consensus rating of “Hold” and a consensus target price of $69.25.

FWRD stock traded down $0.01 on Friday, hitting $57.90. 110 shares of the company’s stock traded hands, compared to its average volume of 159,031. Forward Air Co. has a 1-year low of $51.54 and a 1-year high of $72.81. The firm has a market cap of $1.73 billion, a PE ratio of 18.65 and a beta of 1.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.73 and a quick ratio of 1.73.

Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. The business had revenue of $321.47 million during the quarter, compared to analyst estimates of $324.22 million. During the same period in the prior year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Forward Air Co. will post 3.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, May 23rd. Forward Air’s dividend payout ratio is presently 23.08%.

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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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