Quarry LP Sells 5,607 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Quarry LP reduced its holdings in C.H. Robinson Worldwide by 88.5%, selling 5,607 shares in the first quarter and now owning only 731 shares valued at approximately $75,000.
• Several institutional investors, including Panagora Asset Management and Canada Pension Plan Investment Board, increased their stakes significantly during the same quarter, with institutional ownership now at 93.15%.
• The company declared a quarterly dividend of $0.62 per share, to be paid on October 2nd, marking an annualized yield of 1.9% and a payout ratio of 56.49%.

Quarry LP cut its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 88.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 731 shares of the transportation company's stock after selling 5,607 shares during the quarter. Quarry LP's holdings in C.H. Robinson Worldwide were worth $75,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of C.H. Robinson Worldwide by 4.9% during the 1st 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 in the last quarter. Amalgamated Bank lifted its position in C.H. Robinson Worldwide by 1.9% in 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. lifted its position in C.H. Robinson Worldwide by 4.1% in 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 acquired a new stake in C.H. Robinson Worldwide during the first quarter worth $206,000. Finally, M&T Bank Corp increased its holdings in C.H. Robinson Worldwide by 1.7% in the 1st quarter. M&T Bank Corp now owns 8,713 shares of the transportation company's stock valued at $892,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

C.H. Robinson Worldwide Price Performance

NASDAQ CHRW traded down $1.71 during trading hours on Friday, reaching $126.13. 1,448,044 shares of the company's stock were exchanged, compared to its average volume of 1,419,221. The firm has a fifty day moving average of $111.62 and a 200-day moving average of $101.03. C.H. Robinson Worldwide, Inc. has a one year low of $84.68 and a one year high of $131.17. The stock has a market cap of $14.89 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.98 and a beta of 0.87. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.52.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.12. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.16 billion. C.H. Robinson Worldwide had a return on equity of 35.01% and a net margin of 3.14%.The business's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. On average, equities research analysts predict 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 5th. C.H. Robinson Worldwide's payout ratio is currently 56.49%.

Insider Buying and Selling

In other news, insider Angela K. Freeman sold 5,713 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 65,728 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Arun Rajan sold 2,500 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $121.74, for a total transaction of $304,350.00. Following the sale, the insider directly owned 130,591 shares in the company, valued at $15,898,148.34. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,577 shares of company stock worth $1,714,544 in the last 90 days. Corporate insiders own 1.47% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CHRW. Baird R W raised shares of C.H. Robinson Worldwide from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 31st. Barclays reissued an "underweight" rating and issued a $95.00 price target (up previously from $90.00) on shares of C.H. Robinson Worldwide in a research report on Thursday, July 31st. Robert W. Baird raised C.H. Robinson Worldwide from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a report on Thursday, July 31st. UBS Group reissued a "buy" rating and issued a $133.00 target price (up from $129.00) on shares of C.H. Robinson Worldwide in a report on Thursday, July 31st. Finally, Wells Fargo & Company raised their target price on C.H. Robinson Worldwide from $125.00 to $127.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, C.H. Robinson Worldwide currently has a consensus rating of "Moderate Buy" and an average target price of $117.24.

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.