Zacks Investment Management Invests $2.96 Million in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Zacks Investment Management acquired a new position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) during the 3rd quarter, HoldingsChannel reports. The fund acquired 26,818 shares of the transportation company’s stock, valued at approximately $2,960,000.

Other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its position in shares of C.H. Robinson Worldwide by 83.5% in the third quarter. Venturi Wealth Management LLC now owns 244 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 111 shares in the last quarter. Quarry LP lifted its holdings in C.H. Robinson Worldwide by 76.7% in the 3rd quarter. Quarry LP now owns 394 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 171 shares in the last quarter. Eastern Bank acquired a new stake in C.H. Robinson Worldwide during the 3rd quarter worth $54,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of C.H. Robinson Worldwide during the third quarter worth $55,000. Finally, Peoples Bank KS acquired a new stake in shares of C.H. Robinson Worldwide in the third quarter valued at about $66,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

C.H. Robinson Worldwide Stock Performance

NASDAQ:CHRW opened at $105.43 on Monday. The stock has a market capitalization of $12.46 billion, a P/E ratio of 36.48, a PEG ratio of 1.23 and a beta of 0.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.49 and a current ratio of 1.49. The company has a 50 day moving average price of $107.87 and a 200 day moving average price of $98.74. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $113.10.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.12 by $0.16. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The business had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.38 EPS for the current year.

C.H. Robinson Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, December 6th. C.H. Robinson Worldwide’s dividend payout ratio is currently 85.81%.

Analyst Ratings Changes

CHRW has been the topic of a number of recent research reports. Susquehanna lowered their price target on shares of C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group boosted their target price on C.H. Robinson Worldwide from $97.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets increased their price target on C.H. Robinson Worldwide from $92.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. UBS Group raised C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $140.00 in a research note on Friday, October 4th. Finally, Barclays raised their target price on C.H. Robinson Worldwide from $85.00 to $95.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $107.63.

Insider Activity

In other news, insider Michael John Short sold 10,408 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $109.87, for a total value of $1,143,526.96. Following the transaction, the insider now owns 70,943 shares in the company, valued at approximately $7,794,507.41. This represents a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.47% of the company’s stock.

C.H. Robinson Worldwide Company 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.