PNC Financial Services Group Inc. Acquires 1,633 Shares of C.H. Robinson Worldwide, Inc. $CHRW

PNC Financial Services Group Inc. grew its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 10.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,788 shares of the transportation company’s stock after purchasing an additional 1,633 shares during the period. PNC Financial Services Group Inc.’s holdings in C.H. Robinson Worldwide were worth $1,611,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHRW. State of Michigan Retirement System increased its holdings in C.H. Robinson Worldwide by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 32,292 shares of the transportation company’s stock worth $3,098,000 after buying an additional 100 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of C.H. Robinson Worldwide by 2.7% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,978 shares of the transportation company’s stock valued at $407,000 after acquiring an additional 105 shares during the last quarter. Assetmark Inc. grew its stake in shares of C.H. Robinson Worldwide by 26.3% in the second quarter. Assetmark Inc. now owns 529 shares of the transportation company’s stock worth $51,000 after acquiring an additional 110 shares during the period. Perpetual Ltd raised its holdings in shares of C.H. Robinson Worldwide by 2.3% during the second quarter. Perpetual Ltd now owns 5,033 shares of the transportation company’s stock valued at $483,000 after purchasing an additional 112 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its position in C.H. Robinson Worldwide by 1.9% during the first quarter. Alliance Wealth Advisors LLC UT now owns 6,471 shares of the transportation company’s stock valued at $663,000 after purchasing an additional 121 shares during the period. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CHRW. TD Cowen lifted their target price on shares of C.H. Robinson Worldwide from $115.00 to $138.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Stephens set a $173.00 price objective on C.H. Robinson Worldwide in a report on Thursday, October 30th. Raymond James Financial upped their price objective on C.H. Robinson Worldwide from $158.00 to $161.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Stifel Nicolaus raised their target price on C.H. Robinson Worldwide from $111.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Barclays boosted their price target on C.H. Robinson Worldwide from $130.00 to $145.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, C.H. Robinson Worldwide currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

Insider Buying and Selling at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, insider Michael D. Castagnetto sold 45,266 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $151.70, for a total value of $6,866,852.20. Following the completion of the sale, the insider owned 34,046 shares in the company, valued at approximately $5,164,778.20. This represents a 57.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Angela K. Freeman sold 49,884 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $149.71, for a total value of $7,468,133.64. Following the sale, the insider directly owned 65,728 shares in the company, valued at approximately $9,840,138.88. This represents a 43.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.91% of the stock is owned by company insiders.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW opened at $151.36 on Thursday. The business has a 50-day simple moving average of $137.29 and a two-hundred day simple moving average of $116.23. 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 $158.70. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 1.79 and a beta of 0.88.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.26 billion. C.H. Robinson Worldwide had a return on equity of 35.32% and a net margin of 3.64%.The business’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. On average, analysts expect that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 5th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, December 5th. C.H. Robinson Worldwide’s dividend payout ratio is currently 51.12%.

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.