Public Sector Pension Investment Board Lowers Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Public Sector Pension Investment Board lessened its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 42.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,567 shares of the transportation company's stock after selling 29,400 shares during the quarter. Public Sector Pension Investment Board owned about 0.14% of Forward Air worth $1,436,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FWRD. Boston Trust Walden Corp purchased a new stake in Forward Air in the 2nd quarter worth approximately $611,000. Federated Hermes Inc. boosted its holdings in Forward Air by 712.5% during the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company's stock worth $12,965,000 after buying an additional 597,120 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Forward Air during the third quarter valued at $813,000. Private Management Group Inc. increased its holdings in Forward Air by 34.1% in the second quarter. Private Management Group Inc. now owns 1,336,687 shares of the transportation company's stock valued at $25,451,000 after buying an additional 339,982 shares in the last quarter. Finally, Paralel Advisors LLC raised its position in shares of Forward Air by 47.1% in the second quarter. Paralel Advisors LLC now owns 750,000 shares of the transportation company's stock worth $14,280,000 after acquiring an additional 240,000 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FWRD shares. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the company a "buy" rating in a research report on Friday, October 18th. Benchmark restated a "hold" rating on shares of Forward Air in a research report on Monday, August 12th. Stifel Nicolaus increased their target price on Forward Air from $31.00 to $36.00 and gave the company a "hold" rating in a research report on Monday, October 21st. Finally, StockNews.com raised shares of Forward Air to a "sell" rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $39.25.

Forward Air Stock Up 0.4 %

NASDAQ:FWRD traded up $0.15 during trading hours on Friday, hitting $33.91. The company had a trading volume of 664,293 shares, compared to its average volume of 536,687. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $67.20. The company has a 50-day moving average of $35.99 and a 200 day moving average of $28.87. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07.

About Forward Air

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.