Envestnet Asset Management Inc. Sells 24,539 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Envestnet Asset Management Inc. cut its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 296,345 shares of the transportation company’s stock after selling 24,539 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of C.H. Robinson Worldwide worth $39,236,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CHRW. Vanguard Group Inc. increased its stake in C.H. Robinson Worldwide by 0.4% in the second quarter. Vanguard Group Inc. now owns 14,642,930 shares of the transportation company’s stock valued at $1,404,989,000 after purchasing an additional 56,549 shares in the last quarter. State Street Corp grew its holdings in shares of C.H. Robinson Worldwide by 5.7% in the 2nd quarter. State Street Corp now owns 7,420,768 shares of the transportation company’s stock valued at $716,423,000 after buying an additional 397,177 shares during the period. Boston Partners increased its position in shares of C.H. Robinson Worldwide by 53.0% in the 2nd quarter. Boston Partners now owns 3,518,118 shares of the transportation company’s stock valued at $340,646,000 after buying an additional 1,218,968 shares in the last quarter. Invesco Ltd. raised its stake in C.H. Robinson Worldwide by 5.1% during the 2nd quarter. Invesco Ltd. now owns 2,402,945 shares of the transportation company’s stock worth $230,563,000 after buying an additional 117,222 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in C.H. Robinson Worldwide by 78.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,013,745 shares of the transportation company’s stock worth $193,219,000 after buying an additional 884,160 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CHRW. Citigroup increased their price target on C.H. Robinson Worldwide from $177.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Bank of America lifted their price objective on C.H. Robinson Worldwide from $167.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, December 24th. Raymond James Financial reiterated an “outperform” rating and issued a $215.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, January 29th. Benchmark raised their target price on shares of C.H. Robinson Worldwide from $160.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Morgan Stanley lifted their price target on shares of C.H. Robinson Worldwide from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, C.H. Robinson Worldwide has an average rating of “Moderate Buy” and an average target price of $181.29.

Insider Activity at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, insider Michael D. Castagnetto sold 2,849 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $194.20, for a total value of $553,275.80. Following the completion of the transaction, the insider directly owned 28,149 shares in the company, valued at $5,466,535.80. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael John Short sold 2,390 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $161.91, for a total value of $386,964.90. Following the sale, the insider owned 55,158 shares in the company, valued at approximately $8,930,631.78. This represents a 4.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,469 shares of company stock valued at $1,155,491 over the last three months. Insiders own 0.91% of the company’s stock.

C.H. Robinson Worldwide Price Performance

NASDAQ CHRW opened at $196.61 on Wednesday. C.H. Robinson Worldwide, Inc. has a 12-month low of $84.68 and a 12-month high of $203.34. The firm’s 50 day moving average is $172.31 and its 200-day moving average is $147.01. The company has a market capitalization of $23.23 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.90. The company has a quick ratio of 1.59, a current ratio of 1.53 and a debt-to-equity ratio of 0.59.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Wednesday, January 28th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts anticipate 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 will be paid on Thursday, April 2nd. Investors of record on Friday, March 6th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, March 6th. C.H. Robinson Worldwide’s dividend payout ratio is presently 52.17%.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world’s largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company’s primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.