Allspring Global Investments Holdings LLC Increases Stock Position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Allspring Global Investments Holdings LLC increased its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 451.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,047 shares of the transportation company's stock after acquiring an additional 31,150 shares during the period. Allspring Global Investments Holdings LLC's holdings in C.H. Robinson Worldwide were worth $4,199,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in C.H. Robinson Worldwide by 1.3% in the first quarter. Vanguard Group Inc. now owns 14,215,203 shares of the transportation company's stock valued at $1,082,346,000 after buying an additional 177,119 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in C.H. Robinson Worldwide by 21.1% in the first quarter. First Eagle Investment Management LLC now owns 11,486,055 shares of the transportation company's stock valued at $874,548,000 after buying an additional 2,003,158 shares during the last quarter. ProShare Advisors LLC increased its holdings in C.H. Robinson Worldwide by 26.3% in the second quarter. ProShare Advisors LLC now owns 2,528,787 shares of the transportation company's stock valued at $222,837,000 after buying an additional 526,872 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in C.H. Robinson Worldwide by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 1,315,488 shares of the transportation company's stock valued at $115,921,000 after buying an additional 34,632 shares during the last quarter. Finally, Interval Partners LP purchased a new position in C.H. Robinson Worldwide in the second quarter valued at $82,581,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other C.H. Robinson Worldwide news, insider Michael John Short sold 10,894 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $98.38, for a total value of $1,071,751.72. Following the completion of the sale, the insider now directly owns 70,943 shares of the company's stock, valued at approximately $6,979,372.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company increased their target price on C.H. Robinson Worldwide from $94.00 to $106.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Evercore ISI raised their price objective on C.H. Robinson Worldwide from $112.00 to $122.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. TD Cowen raised their price objective on C.H. Robinson Worldwide from $86.00 to $103.00 and gave the stock a "hold" rating in a report on Thursday, August 1st. UBS Group raised C.H. Robinson Worldwide from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $100.00 to $140.00 in a report on Friday, October 4th. Finally, The Goldman Sachs Group raised their price objective on C.H. Robinson Worldwide from $90.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.29.

C.H. Robinson Worldwide Price Performance

Shares of CHRW traded down $0.94 during mid-day trading on Tuesday, reaching $108.00. 1,091,476 shares of the company's stock were exchanged, compared to its average volume of 1,526,927. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.94. The company has a 50-day simple moving average of $105.51 and a two-hundred day simple moving average of $92.72. C.H. Robinson Worldwide, Inc. has a 52-week low of $65.00 and a 52-week high of $113.10. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.19 and a beta of 0.82.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last released its earnings results on Wednesday, July 31st. The transportation company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.96 by $0.19. The firm had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.53 billion. C.H. Robinson Worldwide had a net margin of 1.90% and a return on equity of 27.84%. C.H. Robinson Worldwide's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. On average, sell-side analysts predict that C.H. Robinson Worldwide, Inc. will post 4.13 EPS for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $0.62 dividend. This is a boost from C.H. Robinson Worldwide's previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Friday, September 6th. C.H. Robinson Worldwide's payout ratio is presently 98.02%.

About C.H. Robinson Worldwide

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.