WealthTrust Asset Management LLC Invests $10.90 Million in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• WealthTrust Asset Management disclosed a new position in C.H. Robinson Worldwide, buying 65,608 shares worth about $10.9 million. The stock now represents roughly 6.5% of its portfolio and is its third-largest holding.
• Institutional ownership remains heavy, with several large funds increasing their stakes and about 93.15% of the company owned by hedge funds and other institutional investors.
• Analysts are mostly constructive on CHRW: the consensus rating is Moderate Buy with an average price target of $198.62, while the shares recently traded above that level after strong quarterly earnings.

WealthTrust Asset Management LLC bought a new stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 65,608 shares of the transportation company's stock, valued at approximately $10,896,000. C.H. Robinson Worldwide makes up approximately 6.5% of WealthTrust Asset Management LLC's holdings, making the stock its 3rd largest holding. WealthTrust Asset Management LLC owned approximately 0.06% of C.H. Robinson Worldwide as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of C.H. Robinson Worldwide by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 14,565,409 shares of the transportation company's stock worth $2,341,535,000 after acquiring an additional 364,163 shares during the last quarter. State Street Corp raised its position 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 purchasing an additional 397,177 shares during the last quarter. Wellington Management Group LLP raised its position in shares of C.H. Robinson Worldwide by 198.6% in the 3rd quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company's stock valued at $945,773,000 after purchasing an additional 4,751,034 shares during the last quarter. Boston Partners boosted its stake in C.H. Robinson Worldwide by 6.1% in the 3rd quarter. Boston Partners now owns 3,731,363 shares of the transportation company's stock worth $494,372,000 after purchasing an additional 213,245 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in C.H. Robinson Worldwide by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,214,855 shares of the transportation company's stock worth $514,889,000 after purchasing an additional 16,961 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America cut their price target on shares of C.H. Robinson Worldwide from $225.00 to $219.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Citigroup began coverage on shares of C.H. Robinson Worldwide in a report on Wednesday. They set a "market outperform" rating on the stock. BMO Capital Markets upped their target price on C.H. Robinson Worldwide from $180.00 to $190.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. Truist Financial raised their target price on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Weiss Ratings cut C.H. Robinson Worldwide from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $198.62.

C.H. Robinson Worldwide Stock Performance

CHRW opened at $208.50 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.79. C.H. Robinson Worldwide, Inc. has a 12-month low of $96.27 and a 12-month high of $208.83. The firm has a 50 day moving average of $183.71 and a two-hundred day moving average of $179.35. The firm has a market capitalization of $24.58 billion, a PE ratio of 42.21, a P/E/G ratio of 1.80 and a beta of 0.91.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.24 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.05 billion. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS. On average, analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.11 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 5th. C.H. Robinson Worldwide's dividend payout ratio is presently 51.01%.

C.H. Robinson Worldwide Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.