Louisiana State Employees Retirement System Lowers Holdings in Forward Air Co. (FWRD)
Louisiana State Employees Retirement System lessened its position in shares of Forward Air Co. (NASDAQ:FWRD) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,800 shares of the transportation company’s stock after selling 195 shares during the period. Louisiana State Employees Retirement System’s holdings in Forward Air were worth $699,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new position in shares of Forward Air in the fourth quarter worth about $42,000. Bank of Montreal Can lifted its stake in shares of Forward Air by 13.2% in the fourth 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 in the last quarter. Quantamental Technologies LLC acquired a new position in shares of Forward Air in the fourth quarter worth about $99,000. Verition Fund Management LLC acquired a new position in shares of Forward Air in the third quarter worth about $219,000. Finally, Paloma Partners Management Co acquired a new position in shares of Forward Air in the third quarter worth about $271,000. 97.44% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Bruce A. Campbell sold 6,713 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $67.10, for a total value of $450,442.30. Following the completion of the transaction, the chairman now directly owns 120,088 shares of the company’s stock, valued at approximately $8,057,904.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bruce A. Campbell sold 8,240 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $65.20, for a total value of $537,248.00. Following the completion of the transaction, the chairman now directly owns 93,732 shares of the company’s stock, valued at $6,111,326.40. The disclosure for this sale can be found here. Insiders sold a total of 43,087 shares of company stock valued at $2,842,670 over the last three months. Corporate insiders own 2.04% of the company’s stock.
Shares of FWRD stock opened at $67.73 on Monday. Forward Air Co. has a 12-month low of $51.54 and a 12-month high of $72.81. The company has a market capitalization of $1.95 billion, a P/E ratio of 21.71 and a beta of 1.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.69 and a quick ratio of 2.66.
Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Thursday, February 7th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. Forward Air had a return on equity of 16.97% and a net margin of 6.97%. The business had revenue of $356.60 million during the quarter, compared to analyst estimates of $347.16 million. During the same period in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts forecast that Forward Air Co. will post 3.4 EPS for the current fiscal year.
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About Forward Air
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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