DnB Asset Management AS Sells 15,690 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

DnB Asset Management AS lessened its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRWGet Rating) by 38.1% in the second quarter, HoldingsChannel reports. The fund owned 25,442 shares of the transportation company’s stock after selling 15,690 shares during the period. DnB Asset Management AS’s holdings in C.H. Robinson Worldwide were worth $2,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of C.H. Robinson Worldwide by 2.2% in the 4th quarter. BlackRock Inc. now owns 18,078,740 shares of the transportation company’s stock valued at $1,945,815,000 after acquiring an additional 397,354 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in C.H. Robinson Worldwide by 0.9% during the 1st quarter. First Eagle Investment Management LLC now owns 10,680,842 shares of the transportation company’s stock valued at $1,150,433,000 after purchasing an additional 91,884 shares during the period. State Street Corp increased its holdings in C.H. Robinson Worldwide by 1.3% during the 4th quarter. State Street Corp now owns 9,315,625 shares of the transportation company’s stock valued at $1,007,612,000 after purchasing an additional 115,771 shares during the period. Geode Capital Management LLC increased its holdings in C.H. Robinson Worldwide by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,683,992 shares of the transportation company’s stock valued at $288,193,000 after purchasing an additional 40,384 shares during the period. Finally, Invesco Ltd. increased its holdings in C.H. Robinson Worldwide by 6.5% during the 1st quarter. Invesco Ltd. now owns 1,367,124 shares of the transportation company’s stock valued at $147,252,000 after purchasing an additional 83,250 shares during the period. Institutional investors own 92.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on C.H. Robinson Worldwide from $117.00 to $123.00 in a report on Thursday, July 28th. Vertical Research downgraded C.H. Robinson Worldwide from a “hold” rating to a “sell” rating and set a $104.00 price target on the stock. in a report on Wednesday, August 17th. Wells Fargo & Company boosted their price target on C.H. Robinson Worldwide from $93.00 to $94.00 and gave the company an “underweight” rating in a report on Thursday, July 28th. Morgan Stanley boosted their price target on C.H. Robinson Worldwide from $63.00 to $66.00 and gave the company an “underweight” rating in a report on Thursday, July 28th. Finally, Citigroup boosted their price target on C.H. Robinson Worldwide from $113.00 to $123.00 in a report on Thursday, July 28th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, C.H. Robinson Worldwide currently has a consensus rating of “Hold” and a consensus price target of $110.81.

Insider Buying and Selling

In related news, insider Michael D. Castagnetto sold 3,046 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $120.00, for a total value of $365,520.00. Following the transaction, the insider now directly owns 20,060 shares of the company’s stock, valued at approximately $2,407,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other C.H. Robinson Worldwide news, Director Henry J. Maier acquired 922 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were acquired at an average cost of $108.45 per share, with a total value of $99,990.90. Following the transaction, the director now owns 922 shares of the company’s stock, valued at approximately $99,990.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Castagnetto sold 3,046 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $120.00, for a total value of $365,520.00. Following the completion of the transaction, the insider now directly owns 20,060 shares in the company, valued at $2,407,200. The disclosure for this sale can be found here. Insiders have sold 33,215 shares of company stock worth $3,887,292 in the last 90 days. Insiders own 1.64% of the company’s stock.

C.H. Robinson Worldwide Stock Performance

C.H. Robinson Worldwide stock opened at $102.50 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $12.70 billion, a P/E ratio of 12.33, a PEG ratio of 1.32 and a beta of 0.73. The stock’s 50 day moving average is $110.10 and its 200 day moving average is $106.18. C.H. Robinson Worldwide, Inc. has a twelve month low of $85.80 and a twelve month high of $121.23.

C.H. Robinson Worldwide (NASDAQ:CHRWGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The transportation company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.79. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $6.78 billion. C.H. Robinson Worldwide had a return on equity of 53.97% and a net margin of 4.15%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 EPS. On average, equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 8.76 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, September 1st. This represents a $2.20 annualized dividend and a dividend yield of 2.15%. C.H. Robinson Worldwide’s payout ratio is currently 26.47%.

About C.H. Robinson Worldwide

(Get Rating)

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates in two segments, North American Surface Transportation and Global Forwarding. It offers transportation and logistics services, such as truckload; less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprise the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel ocean common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.

See Also

Want to see what other hedge funds are holding CHRW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for C.H. Robinson Worldwide, Inc. (NASDAQ:CHRWGet Rating).

Institutional Ownership by Quarter for C.H. Robinson Worldwide (NASDAQ:CHRW)

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