Parallel Advisors LLC Acquires 214 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Parallel Advisors LLC increased its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 5.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,109 shares of the transportation company’s stock after purchasing an additional 214 shares during the period. Parallel Advisors LLC’s holdings in C.H. Robinson Worldwide were worth $394,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings 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 worth $15,248,000 after purchasing an additional 6,889 shares during the period. Amalgamated Bank grew its holdings 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 worth $2,365,000 after purchasing an additional 432 shares during the period. Assenagon Asset Management S.A. grew its holdings in C.H. Robinson Worldwide by 4.1% during the first quarter. Assenagon Asset Management S.A. now owns 8,567 shares of the transportation company’s stock worth $877,000 after purchasing an additional 340 shares during the period. Elevation Point Wealth Partners LLC bought a new position in C.H. Robinson Worldwide during the first quarter worth about $206,000. Finally, M&T Bank Corp boosted its holdings in shares of 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 worth $892,000 after acquiring an additional 144 shares during the period. Institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, insider Angela K. Freeman sold 5,713 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $116.24, for a total transaction of $664,079.12. Following the sale, the insider owned 65,728 shares of the company’s stock, valued at approximately $7,640,222.72. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael John Short sold 6,364 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $117.24, for a total transaction of $746,115.36. Following the sale, the insider directly owned 60,401 shares in the company, valued at $7,081,413.24. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,577 shares of company stock valued at $1,714,544. 1.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHRW. Susquehanna restated a “positive” rating and set a $120.00 price objective (up previously from $115.00) on shares of C.H. Robinson Worldwide in a report on Tuesday, June 24th. Citigroup boosted their price objective on C.H. Robinson Worldwide from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Wolfe Research upgraded C.H. Robinson Worldwide from a “peer perform” rating to an “outperform” rating and set a $112.00 price objective for the company in a report on Tuesday, July 1st. Robert W. Baird upgraded C.H. Robinson Worldwide from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on C.H. Robinson Worldwide from $118.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.24.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW opened at $136.07 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $16.07 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87. The firm’s fifty day simple moving average is $118.31 and its two-hundred day simple moving average is $103.26. C.H. Robinson Worldwide, Inc. has a 12 month low of $84.68 and a 12 month high of $138.00.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.12. The business had revenue of $4.14 billion for 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 business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. As a group, analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.48 dividend on an annualized basis and a yield of 1.8%. C.H. Robinson Worldwide’s dividend payout ratio is 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.