Envestnet Asset Management Inc. Cuts Stock Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Envestnet Asset Management Inc. lessened its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 20.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 253,161 shares of the transportation company's stock after selling 65,029 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of C.H. Robinson Worldwide worth $26,157,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in C.H. Robinson Worldwide by 92,841.1% during the 4th quarter. Van ECK Associates Corp now owns 3,007,574 shares of the transportation company's stock worth $310,742,000 after buying an additional 3,004,338 shares during the period. Norges Bank acquired a new stake in C.H. Robinson Worldwide in the 4th quarter valued at $134,833,000. Raymond James Financial Inc. acquired a new position in C.H. Robinson Worldwide during the fourth quarter worth $102,174,000. Wellington Management Group LLP lifted its stake in C.H. Robinson Worldwide by 25.7% in the fourth quarter. Wellington Management Group LLP now owns 2,899,550 shares of the transportation company's stock valued at $299,582,000 after acquiring an additional 593,211 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its position in C.H. Robinson Worldwide by 737.0% during the fourth quarter. Jupiter Asset Management Ltd. now owns 400,418 shares of the transportation company's stock worth $41,371,000 after buying an additional 352,578 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CHRW shares. Benchmark restated a "buy" rating and set a $125.00 price objective on shares of C.H. Robinson Worldwide in a report on Friday, January 31st. Stephens reissued an "equal weight" rating and set a $111.00 target price on shares of C.H. Robinson Worldwide in a report on Thursday, January 30th. Raymond James lowered their price target on shares of C.H. Robinson Worldwide from $118.00 to $111.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Truist Financial assumed coverage on C.H. Robinson Worldwide in a research note on Thursday, March 13th. They issued a "buy" rating and a $115.00 price target for the company. Finally, Wells Fargo & Company dropped their target price on shares of C.H. Robinson Worldwide from $130.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, C.H. Robinson Worldwide presently has an average rating of "Moderate Buy" and a consensus price target of $117.20.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Michael D. Castagnetto sold 5,016 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.60, for a total transaction of $499,593.60. Following the transaction, the insider now directly owns 34,586 shares of the company's stock, valued at approximately $3,444,765.60. This represents a 12.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela K. Freeman sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $100.39, for a total value of $803,120.00. Following the completion of the sale, the insider now directly owns 77,027 shares of the company's stock, valued at $7,732,740.53. This trade represents a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.47% of the company's stock.

C.H. Robinson Worldwide Trading Down 1.9 %

Shares of CHRW traded down $1.70 during trading hours on Wednesday, hitting $89.86. 817,003 shares of the stock were exchanged, compared to its average volume of 1,413,632. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $114.82. The business has a 50-day moving average of $97.76 and a 200-day moving average of $103.37. The firm has a market capitalization of $10.62 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.28 and a quick ratio of 1.49.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.53% and a net margin of 2.63%. On average, research analysts expect that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, March 7th. C.H. Robinson Worldwide's payout ratio is 64.42%.

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.