Neuberger Berman Group LLC Raises Stock Position in Forward Air Co. (NASDAQ:FWRD)

Neuberger Berman Group LLC boosted its holdings in Forward Air Co. (NASDAQ:FWRD) by 10.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,383,385 shares of the transportation company’s stock after purchasing an additional 130,768 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.05% of Forward Air worth $124,159,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Forward Air by 1.3% during the second quarter. Vanguard Group Inc. now owns 2,907,162 shares of the transportation company’s stock valued at $260,917,000 after purchasing an additional 38,557 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Forward Air by 3.1% during the first quarter. Clearbridge Investments LLC now owns 1,109,227 shares of the transportation company’s stock valued at $98,510,000 after purchasing an additional 32,848 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Forward Air by 1.8% during the second quarter. Geode Capital Management LLC now owns 469,983 shares of the transportation company’s stock valued at $42,180,000 after purchasing an additional 8,297 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Forward Air by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 340,269 shares of the transportation company’s stock valued at $30,540,000 after purchasing an additional 4,419 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Forward Air by 12.5% during the second quarter. JPMorgan Chase & Co. now owns 278,094 shares of the transportation company’s stock valued at $24,959,000 after purchasing an additional 30,821 shares in the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

FWRD opened at $83.32 on Thursday. The firm has a market cap of $2.26 billion, a P/E ratio of 42.95 and a beta of 1.14. Forward Air Co. has a 12 month low of $59.24 and a 12 month high of $100.93. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $86.46 and a 200 day moving average of $89.45.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, July 28th. The transportation company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.14. The company had revenue of $420.67 million during the quarter, compared to analyst estimates of $390.90 million. Forward Air had a return on equity of 14.49% and a net margin of 3.69%. On average, research analysts forecast that Forward Air Co. will post 3.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 9th. Shareholders of record on Friday, August 20th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, August 19th. Forward Air’s payout ratio is currently 44.44%.

A number of research analysts have recently weighed in on FWRD shares. Zacks Investment Research lowered Forward Air from a “buy” rating to a “hold” rating in a research report on Monday, October 4th. TheStreet upgraded Forward Air from a “c+” rating to a “b-” rating in a research report on Wednesday, August 11th. Finally, Raymond James lifted their price target on Forward Air from $120.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 13th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $97.50.

About Forward Air

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

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