Bank of Nova Scotia Reduces Stock Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Bank of Nova Scotia lessened its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 49.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,158 shares of the transportation company's stock after selling 18,730 shares during the quarter. Bank of Nova Scotia's holdings in C.H. Robinson Worldwide were worth $1,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. National Pension Service bought a new position in C.H. Robinson Worldwide during the fourth quarter worth about $25,000. Proficio Capital Partners LLC acquired a new stake in C.H. Robinson Worldwide during the fourth quarter worth approximately $33,000. Missouri Trust & Investment Co bought a new position in C.H. Robinson Worldwide during the 4th quarter worth $41,000. Mainstream Capital Management LLC acquired a new stake in shares of C.H. Robinson Worldwide during the 4th quarter worth $41,000. Finally, Brooklyn Investment Group raised its stake in C.H. Robinson Worldwide by 213.5% in the fourth quarter. Brooklyn Investment Group now owns 464 shares of the transportation company's stock valued at $48,000 after purchasing an additional 316 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

CHRW has been the topic of a number of recent analyst reports. Bank of America decreased their price objective on shares of C.H. Robinson Worldwide from $122.00 to $119.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Jefferies Financial Group dropped their price target on shares of C.H. Robinson Worldwide from $110.00 to $100.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Susquehanna dropped their target price on shares of C.H. Robinson Worldwide from $127.00 to $117.00 and set a "positive" rating on the stock in a report on Wednesday, March 26th. Citigroup dropped their price objective on C.H. Robinson Worldwide from $124.00 to $116.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of C.H. Robinson Worldwide in a research report on Friday, March 7th. They set a "buy" rating and a $129.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $117.20.

C.H. Robinson Worldwide Stock Up 1.4 %

NASDAQ:CHRW traded up $1.28 during mid-day trading on Friday, hitting $91.14. 1,036,109 shares of the company's stock were exchanged, compared to its average volume of 1,408,594. The business has a fifty day moving average price of $97.46 and a 200 day moving average price of $103.15. The company has a market cap of $10.78 billion, a PE ratio of 23.67, a P/E/G ratio of 1.16 and a beta of 0.86. C.H. Robinson Worldwide, Inc. has a one year low of $68.98 and a one year high of $114.82. 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 released its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.11. C.H. Robinson Worldwide had a net margin of 2.63% and a return on equity of 34.53%. Equities analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.48 annualized dividend and a yield of 2.72%. C.H. Robinson Worldwide's payout ratio is currently 64.42%.

Insider Buying and Selling at C.H. Robinson Worldwide

In other news, insider Michael D. Castagnetto sold 5,016 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.60, for a total value of $499,593.60. Following the transaction, the insider now directly owns 34,586 shares in the company, valued at approximately $3,444,765.60. This represents a 12.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Angela K. Freeman sold 8,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $100.39, for a total transaction of $803,120.00. Following the completion of the transaction, the insider now owns 77,027 shares in the company, valued at $7,732,740.53. This represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.47% of the company's stock.

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.