C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 48.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,056 shares of the transportation company’s stock after selling 9,627 shares during the period. Convergence Investment Partners LLC’s holdings in C.H. Robinson Worldwide were worth $965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in C.H. Robinson Worldwide by 4.9% during the first quarter. Principal Financial Group Inc. now owns 148,905 shares of the transportation company’s stock valued at $15,248,000 after purchasing an additional 6,889 shares during the period. Amalgamated Bank lifted its position in C.H. Robinson Worldwide by 1.9% during the first quarter. Amalgamated Bank now owns 23,098 shares of the transportation company’s stock valued at $2,365,000 after purchasing an additional 432 shares during the period. M&T Bank Corp lifted its position in C.H. Robinson Worldwide by 1.7% during the first quarter. M&T Bank Corp now owns 8,713 shares of the transportation company’s stock valued at $892,000 after purchasing an additional 144 shares during the period. New York State Teachers Retirement System lifted its position in C.H. Robinson Worldwide by 12.8% during the second quarter. New York State Teachers Retirement System now owns 100,735 shares of the transportation company’s stock valued at $9,666,000 after purchasing an additional 11,443 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in C.H. Robinson Worldwide by 118.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,905 shares of the transportation company’s stock valued at $3,472,000 after purchasing an additional 18,390 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 6,364 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $117.24, for a total transaction of $746,115.36. Following the completion of the sale, the insider owned 60,401 shares of the company’s stock, valued at $7,081,413.24. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela K. Freeman sold 5,713 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $116.24, for a total transaction of $664,079.12. Following the sale, the insider directly owned 65,728 shares of the company’s stock, valued at $7,640,222.72. This represents a 8.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,577 shares of company stock valued at $1,714,544 over the last 90 days. Corporate insiders own 0.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CHRW shares. Raymond James Financial boosted their target price on shares of C.H. Robinson Worldwide from $111.00 to $158.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Barclays raised shares of C.H. Robinson Worldwide from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $95.00 to $130.00 in a report on Wednesday, October 1st. Bank of America lifted their price objective on shares of C.H. Robinson Worldwide from $120.00 to $136.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Evercore ISI lifted their price objective on shares of C.H. Robinson Worldwide from $116.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of C.H. Robinson Worldwide in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, C.H. Robinson Worldwide presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.05.

C.H. Robinson Worldwide Stock Up 2.4%

CHRW stock opened at $129.06 on Tuesday. The stock has a market capitalization of $15.24 billion, a P/E ratio of 29.40, a P/E/G ratio of 1.74 and a beta of 0.90. The firm has a 50-day simple moving average of $129.58 and a 200-day simple moving average of $109.24. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. C.H. Robinson Worldwide, Inc. has a 52 week low of $84.68 and a 52 week high of $138.00.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.12. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.16 billion. C.H. Robinson Worldwide had a net margin of 3.14% and a return on equity of 35.01%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 earnings per share. Equities analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.9%. C.H. Robinson Worldwide’s payout ratio is currently 56.49%.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company 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 comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.