Forward Air Co. (NASDAQ:FWRD) Stake Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Forward Air Co. (NASDAQ:FWRD) by 53.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,519 shares of the transportation company’s stock after selling 104,355 shares during the quarter. Principal Financial Group Inc. owned about 0.33% of Forward Air worth $3,204,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clearlake Capital Group L.P. increased its holdings in shares of Forward Air by 255.2% during the second quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock valued at $72,828,000 after purchasing an additional 2,747,994 shares during the period. Vanguard Group Inc. increased its stake in Forward Air by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company’s stock valued at $106,017,000 after buying an additional 424,924 shares during the period. Ridgemont Partners Management LLC raised its position in shares of Forward Air by 172.7% during the 2nd quarter. Ridgemont Partners Management LLC now owns 1,910,615 shares of the transportation company’s stock worth $36,378,000 after buying an additional 1,210,006 shares in the last quarter. Private Management Group Inc. lifted its stake in shares of Forward Air by 34.1% in the 2nd quarter. Private Management Group Inc. now owns 1,336,687 shares of the transportation company’s stock worth $25,451,000 after acquiring an additional 339,982 shares during the period. Finally, MFN Partners Management LP bought a new position in shares of Forward Air in the second quarter valued at approximately $17,208,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FWRD has been the subject of a number of research analyst reports. StockNews.com upgraded Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the company a “buy” rating in a research note on Friday, October 18th. Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. Stifel Nicolaus raised their price objective on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Robert W. Baird boosted their target price on shares of Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Forward Air has an average rating of “Hold” and an average target price of $39.25.

Forward Air Trading Up 2.1 %

Shares of FWRD opened at $35.68 on Friday. The business’s 50-day moving average price is $36.16 and its 200 day moving average price is $27.45. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The stock has a market capitalization of $1.03 billion, a P/E ratio of -1.50 and a beta of 1.02. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $67.20.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.