Isthmus Partners LLC grew its holdings in Forward Air Co. (NASDAQ:FWRD) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,779 shares of the transportation company’s stock after acquiring an additional 217 shares during the quarter. Isthmus Partners LLC owned 0.07% of Forward Air worth $1,775,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp boosted its holdings in Forward Air by 127.6% in the first quarter. Fifth Third Bancorp now owns 330 shares of the transportation company’s stock worth $29,000 after acquiring an additional 185 shares in the last quarter. Eaton Vance Management acquired a new stake in Forward Air in the first quarter worth about $32,000. Captrust Financial Advisors boosted its holdings in Forward Air by 736.7% in the first quarter. Captrust Financial Advisors now owns 502 shares of the transportation company’s stock worth $45,000 after acquiring an additional 442 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Forward Air by 810.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,047 shares of the transportation company’s stock worth $94,000 after acquiring an additional 932 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Forward Air in the second quarter worth about $103,000. 97.24% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on FWRD shares. TheStreet raised Forward Air from a “c+” rating to a “b-” rating in a report on Wednesday, August 11th. Raymond James lifted their target price on Forward Air from $120.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 13th. Finally, Zacks Investment Research raised Forward Air from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Tuesday, June 15th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Forward Air currently has an average rating of “Buy” and a consensus price target of $97.50.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, July 28th. The transportation company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.14. Forward Air had a return on equity of 14.49% and a net margin of 3.69%. Research analysts expect that Forward Air Co. will post 3.92 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Investors of record on Friday, August 20th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, August 19th. Forward Air’s dividend payout ratio is currently 44.44%.
Forward Air Profile
Forward Air Corp. engages in the provision of less-than-truckload (LTL), truckload, intermodal and pool distribution services. It operates through the following segments: Expedited LTL and Intermodal. The Expedited LTL segment provides expedited regional, inter-regional and national LTL, final mile and truckload services.
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