RBA Wealth Management LLC Raises Holdings in Forward Air Co. (NASDAQ:FWRD)


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RBA Wealth Management LLC grew its position in shares of Forward Air Co. (NASDAQ:FWRD) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,077 shares of the transportation company’s stock after purchasing an additional 1,207 shares during the period. Forward Air makes up approximately 2.1% of RBA Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. RBA Wealth Management LLC’s holdings in Forward Air were worth $2,494,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Scout Investments Inc. grew its position in shares of Forward Air by 11.0% during the first quarter. Scout Investments Inc. now owns 98,904 shares of the transportation company’s stock valued at $8,784,000 after purchasing an additional 9,775 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Forward Air in the first quarter worth about $410,000. Confluence Investment Management LLC grew its position in Forward Air by 3.6% in the first quarter. Confluence Investment Management LLC now owns 71,571 shares of the transportation company’s stock worth $6,356,000 after acquiring an additional 2,512 shares in the last quarter. Norges Bank purchased a new position in Forward Air in the fourth quarter worth about $27,968,000. Finally, Hsbc Holdings PLC purchased a new position in Forward Air in the fourth quarter worth about $419,000. Hedge funds and other institutional investors own 95.80% of the company’s stock.

Shares of NASDAQ:FWRD traded up $0.27 during trading hours on Friday, hitting $89.50. 589 shares of the company’s stock traded hands, compared to its average volume of 133,095. The business has a fifty day moving average price of $88.82 and a 200-day moving average price of $76.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.50 and a quick ratio of 1.50. Forward Air Co. has a 1 year low of $40.75 and a 1 year high of $93.53. The firm has a market capitalization of $2.44 billion, a P/E ratio of 47.97 and a beta of 1.15.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Wednesday, February 10th. The transportation company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.90). Forward Air had a net margin of 3.91% and a return on equity of 10.39%. The company had revenue of $350.34 million for the quarter, compared to the consensus estimate of $417.75 million. As a group, equities analysts predict that Forward Air Co. will post 1.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Thursday, March 4th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, March 3rd. Forward Air’s dividend payout ratio is presently 27.63%.

Several research analysts recently commented on FWRD shares. Zacks Investment Research lowered Forward Air from a “buy” rating to a “hold” rating in a research report on Friday, March 5th. Raymond James boosted their target price on Forward Air from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wolfe Research upgraded Forward Air from a “peer perform” rating to an “outperform” rating and set a $101.00 target price for the company in a research report on Tuesday, February 16th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.20.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. The company operates through 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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