Nuveen Asset Management LLC Decreases Holdings in Forward Air Co. (NASDAQ:FWRD)

Nuveen Asset Management LLC trimmed its holdings in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 44.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,377 shares of the transportation company's stock after selling 39,502 shares during the period. Nuveen Asset Management LLC owned approximately 0.17% of Forward Air worth $1,592,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its holdings in shares of Forward Air by 2.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company's stock worth $498,000 after buying an additional 432 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Forward Air by 4.1% during the 4th quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company's stock worth $366,000 after buying an additional 447 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Forward Air by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,251 shares of the transportation company's stock worth $460,000 after buying an additional 498 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Forward Air by 5.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company's stock worth $313,000 after buying an additional 500 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Forward Air by 0.6% during the 4th quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company's stock worth $3,335,000 after buying an additional 572 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Stock Up 3.4%

Shares of FWRD traded up $0.61 during trading hours on Thursday, reaching $18.60. The stock had a trading volume of 439,363 shares, compared to its average volume of 773,371. 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 firm has a 50-day simple moving average of $16.20 and a 200 day simple moving average of $25.06. Forward Air Co. has a 12 month low of $9.79 and a 12 month high of $40.92. The company has a market capitalization of $565.87 million, a price-to-earnings ratio of -0.78 and a beta of 1.29.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Susquehanna cut their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a report on Monday, March 31st. Robert W. Baird cut their target price on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus cut their target price on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $32.25.

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.