Deprince Race & Zollo Inc. lowered its stake in shares of Forward Air Corporation (NASDAQ:FWRD) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,265 shares of the transportation company’s stock after selling 8 shares during the period. Deprince Race & Zollo Inc. owned approximately 1.25% of Forward Air Corporation worth $20,101,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FWRD. Great West Life Assurance Co. Can increased its position in shares of Forward Air Corporation by 5.3% in the first quarter. Great West Life Assurance Co. Can now owns 42,236 shares of the transportation company’s stock valued at $2,008,000 after buying an additional 2,109 shares during the period. Geneva Advisors LLC increased its position in shares of Forward Air Corporation by 5.8% in the first quarter. Geneva Advisors LLC now owns 27,451 shares of the transportation company’s stock valued at $1,306,000 after buying an additional 1,512 shares during the period. Wells Fargo & Company MN increased its position in shares of Forward Air Corporation by 1.1% in the first quarter. Wells Fargo & Company MN now owns 136,361 shares of the transportation company’s stock valued at $6,487,000 after buying an additional 1,495 shares during the period. Russell Investments Group Ltd. increased its position in shares of Forward Air Corporation by 27.0% in the first quarter. Russell Investments Group Ltd. now owns 164,238 shares of the transportation company’s stock valued at $7,812,000 after buying an additional 34,872 shares during the period. Finally, Profit Investment Management LLC increased its position in shares of Forward Air Corporation by 10.9% in the first quarter. Profit Investment Management LLC now owns 57,013 shares of the transportation company’s stock valued at $2,712,000 after buying an additional 5,618 shares during the period. 98.36% of the stock is currently owned by institutional investors.

Shares of Forward Air Corporation (NASDAQ:FWRD) opened at 50.73 on Friday. Forward Air Corporation has a 12 month low of $40.07 and a 12 month high of $56.52. The company has a market cap of $1.54 billion, a P/E ratio of 26.53 and a beta of 1.06. The company’s 50-day moving average price is $52.55 and its 200-day moving average price is $50.53.

Forward Air Corporation (NASDAQ:FWRD) last released its earnings results on Wednesday, July 26th. The transportation company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The firm had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $256.98 million. During the same period in the previous year, the firm posted $0.57 EPS. Forward Air Corporation’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts forecast that Forward Air Corporation will post $2.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. Forward Air Corporation’s dividend payout ratio is currently 31.25%.

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A number of equities analysts have recently issued reports on FWRD shares. Stifel Nicolaus increased their price target on Forward Air Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Zacks Investment Research raised Forward Air Corporation from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, May 16th. BidaskClub raised Forward Air Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Wolfe Research downgraded Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Finally, Cowen and Company reissued a “hold” rating and set a $51.00 price target on shares of Forward Air Corporation in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.25.

In related news, Director C Robert Campbell sold 1,718 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $52.99, for a total value of $91,036.82. Following the completion of the sale, the director now directly owns 19,652 shares of the company’s stock, valued at approximately $1,041,359.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bruce A. Campbell sold 20,529 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $51.64, for a total value of $1,060,117.56. Following the completion of the sale, the chairman now directly owns 203,235 shares of the company’s stock, valued at $10,495,055.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,831 shares of company stock valued at $2,836,938. Insiders own 2.40% of the company’s stock.

About Forward Air Corporation

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

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Institutional Ownership by Quarter for Forward Air Corporation (NASDAQ:FWRD)

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