Nuveen Asset Management LLC Has $1.59 Million Holdings in Forward Air Co. (NASDAQ:FWRD)

Nuveen Asset Management LLC cut its stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 44.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,377 shares of the transportation company's stock after selling 39,502 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.17% of Forward Air worth $1,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FWRD. Proficio Capital Partners LLC purchased a new position in shares of Forward Air in the fourth quarter worth about $815,000. Principal Financial Group Inc. lifted its holdings in shares of Forward Air by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock worth $3,133,000 after acquiring an additional 6,629 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Forward Air by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after buying an additional 79,960 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Forward Air during the 4th quarter valued at $320,000. Finally, Wells Fargo & Company MN increased its position in Forward Air by 10.2% during the 4th quarter. Wells Fargo & Company MN now owns 30,042 shares of the transportation company's stock valued at $969,000 after purchasing an additional 2,773 shares during the period. 97.03% of the stock is owned by institutional investors.

Forward Air Price Performance

FWRD stock traded up $0.09 during midday trading on Friday, hitting $18.69. 411,805 shares of the stock were exchanged, compared to its average volume of 770,364. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The stock's 50-day moving average price is $16.15 and its 200-day moving average price is $24.85. The stock has a market cap of $568.61 million, a price-to-earnings ratio of -0.78 and a beta of 1.29. Forward Air Co. has a fifty-two week low of $9.79 and a fifty-two week high of $40.92.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FWRD. Stifel Nicolaus dropped their price target on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Susquehanna reduced their target price on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. Finally, Robert W. Baird cut their price objective on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus 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.