Belpointe Asset Management LLC Makes New Investment in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Belpointe Asset Management has taken a new position in C.H. Robinson Worldwide, acquiring 2,180 shares valued at approximately $223,000.
• Institutional investors collectively own 93.15% of C.H. Robinson's stock, with notable investments from firms like Vanguard Group and Invesco.
• C.H. Robinson Worldwide recently reported $1.29 earnings per share for the quarter, surpassing analysts' estimates while also announcing a $0.62 quarterly dividend with a yield of 1.9%.

Belpointe Asset Management LLC acquired a new position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,180 shares of the transportation company's stock, valued at approximately $223,000.

Several other hedge funds have also recently bought and sold shares of CHRW. Vanguard Group Inc. increased its stake in shares of C.H. Robinson Worldwide by 0.4% in the first quarter. Vanguard Group Inc. now owns 14,586,381 shares of the transportation company's stock valued at $1,493,645,000 after buying an additional 51,207 shares in the last quarter. Boston Partners acquired a new stake in shares of C.H. Robinson Worldwide in the first quarter valued at $234,304,000. Invesco Ltd. increased its stake in shares of C.H. Robinson Worldwide by 8.4% in the first quarter. Invesco Ltd. now owns 2,285,723 shares of the transportation company's stock valued at $234,058,000 after buying an additional 176,374 shares in the last quarter. Northern Trust Corp increased its stake in shares of C.H. Robinson Worldwide by 30.3% in the first quarter. Northern Trust Corp now owns 1,703,059 shares of the transportation company's stock valued at $174,393,000 after buying an additional 396,264 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of C.H. Robinson Worldwide by 1.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,415,669 shares of the transportation company's stock valued at $144,965,000 after buying an additional 16,068 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CHRW. Barclays restated an "underweight" rating and issued a $95.00 target price (up from $90.00) on shares of C.H. Robinson Worldwide in a research note on Thursday, July 31st. UBS Group reiterated a "buy" rating and issued a $133.00 price target (up previously from $129.00) on shares of C.H. Robinson Worldwide in a report on Thursday, July 31st. Raymond James Financial set a $111.00 price target on C.H. Robinson Worldwide and gave the company an "outperform" rating in a report on Tuesday, July 15th. Bank of America raised their price target on C.H. Robinson Worldwide from $120.00 to $136.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Finally, Wolfe Research upgraded C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price target on the stock in a report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $117.24.

Insider Activity at C.H. Robinson Worldwide

In related news, insider Arun Rajan sold 2,500 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $121.74, for a total value of $304,350.00. Following the sale, the insider owned 130,591 shares of the company's stock, valued at approximately $15,898,148.34. This trade represents a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael John Short sold 6,364 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $117.24, for a total value of $746,115.36. Following the completion of the sale, the insider directly owned 60,401 shares in the company, valued at approximately $7,081,413.24. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,577 shares of company stock valued at $1,714,544. 1.47% of the stock is owned by insiders.

C.H. Robinson Worldwide Stock Down 0.1%

Shares of NASDAQ:CHRW traded down $0.20 during trading on Friday, hitting $136.90. 1,093,016 shares of the company's stock traded hands, compared to its average volume of 1,360,772. C.H. Robinson Worldwide, Inc. has a 52 week low of $84.68 and a 52 week high of $138.00. 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 company has a market cap of $16.17 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.12 and a beta of 0.87. The company has a 50-day moving average price of $117.58 and a 200-day moving average price of $102.96.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.12. C.H. Robinson Worldwide had a return on equity of 35.01% and a net margin of 3.14%.The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the previous year, the business posted $1.15 EPS. C.H. Robinson Worldwide's revenue for the quarter was down 7.7% on a year-over-year basis. As a group, research analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

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