Thrivent Financial for Lutherans Boosts Stake in Forward Air Co. (NASDAQ:FWRD)

Thrivent Financial for Lutherans lifted its holdings in shares of Forward Air Co. (NASDAQ:FWRDGet Rating) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 715,167 shares of the transportation company’s stock after buying an additional 47,048 shares during the period. Thrivent Financial for Lutherans’ holdings in Forward Air were worth $65,767,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FWRD. CWM LLC grew its position in Forward Air by 73.5% in the 2nd quarter. CWM LLC now owns 354 shares of the transportation company’s stock worth $33,000 after purchasing an additional 150 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Forward Air by 88.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 382 shares of the transportation company’s stock worth $35,000 after buying an additional 179 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Forward Air in the first quarter worth $45,000. First Horizon Advisors Inc. increased its position in Forward Air by 5,675.0% during the second quarter. First Horizon Advisors Inc. now owns 693 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 681 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Forward Air by 32.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 811 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 200 shares during the period. 99.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Forward Air Stock Down 0.6 %

FWRD opened at $107.43 on Friday. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 15.30 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 1.74. The firm’s fifty day moving average is $104.60 and its 200 day moving average is $99.07. Forward Air Co. has a fifty-two week low of $84.04 and a fifty-two week high of $125.71.

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

Forward Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Shareholders of record on Wednesday, November 23rd were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $0.96 annualized dividend and a yield of 0.89%. Forward Air’s payout ratio is 13.68%.

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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