Clearbridge Investments LLC Has $46.65 Million Position in Forward Air Co. (NASDAQ:FWRD)

Clearbridge Investments LLC boosted its holdings in Forward Air Co. (NASDAQ:FWRD) by 42.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 720,663 shares of the transportation company’s stock after acquiring an additional 215,206 shares during the period. Clearbridge Investments LLC owned about 2.51% of Forward Air worth $46,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FWRD. O Shaughnessy Asset Management LLC acquired a new position in Forward Air during the 4th quarter worth $42,000. Bank of Montreal Can lifted its position in Forward Air by 13.2% during 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 last quarter. Quantamental Technologies LLC lifted its position in Forward Air by 10.7% during the 1st quarter. Quantamental Technologies LLC now owns 1,991 shares of the transportation company’s stock worth $129,000 after acquiring an additional 193 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in Forward Air during the 1st quarter worth $207,000. Finally, Parametrica Management Ltd acquired a new position in Forward Air during the 1st quarter worth $220,000. 95.34% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ FWRD traded up $1.43 on Friday, reaching $59.58. The company’s stock had a trading volume of 137,327 shares, compared to its average volume of 153,172. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.10 and a beta of 1.55. The company’s 50-day moving average price is $58.15. Forward Air Co. has a 52 week low of $51.54 and a 52 week high of $72.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.73 and a current ratio of 1.73.

Forward Air (NASDAQ:FWRD) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $321.47 million for the quarter, compared to analysts’ expectations of $324.22 million. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, equities analysts forecast that Forward Air Co. will post 3.26 EPS for the current year.

FWRD has been the topic of several research reports. Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Deutsche Bank boosted their price objective on shares of Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, BidaskClub downgraded shares of ZIX from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $70.00.

Forward Air Company Profile

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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