Wedge Capital Management L L P NC Increases Stock Position in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Wedge Capital Management increased its stake in C.H. Robinson Worldwide by 21.8%, acquiring an additional 11,135 shares to total 62,200 shares valued at approximately $5.97 million.
• Insider sales include a transaction where Arun Rajan sold 2,500 shares at an average price of $121.74, reducing their position by 1.88% and leaving them with 130,591 shares valued at nearly $15.9 million.
• C.H. Robinson Worldwide announced a quarterly dividend of $0.62 per share, translating to an annualized yield of 1.8%, with a dividend payout ratio of 56.49%.

Wedge Capital Management L L P NC increased its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 21.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,200 shares of the transportation company's stock after buying an additional 11,135 shares during the quarter. Wedge Capital Management L L P NC owned 0.05% of C.H. Robinson Worldwide worth $5,968,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wright Investors Service Inc. acquired a new position in C.H. Robinson Worldwide in the 2nd quarter valued at $467,000. Global X Japan Co. Ltd. raised its stake in shares of C.H. Robinson Worldwide by 16.3% in the second quarter. Global X Japan Co. Ltd. now owns 6,513 shares of the transportation company's stock worth $625,000 after purchasing an additional 915 shares during the last quarter. Perpetual Ltd raised its stake in shares of C.H. Robinson Worldwide by 2.3% in the second quarter. Perpetual Ltd now owns 5,033 shares of the transportation company's stock worth $483,000 after purchasing an additional 112 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of C.H. Robinson Worldwide by 19.0% during the second quarter. IFM Investors Pty Ltd now owns 23,812 shares of the transportation company's stock valued at $2,285,000 after acquiring an additional 3,797 shares during the last quarter. Finally, Contravisory Investment Management Inc. increased its position in shares of C.H. Robinson Worldwide by 48.5% during the second quarter. Contravisory Investment Management Inc. now owns 7,799 shares of the transportation company's stock valued at $748,000 after acquiring an additional 2,547 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Michael John Short sold 6,364 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $117.24, for a total transaction of $746,115.36. Following the completion of the sale, the insider owned 60,401 shares of the company's stock, valued at $7,081,413.24. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Arun Rajan sold 2,500 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $15,898,148.34. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,577 shares of company stock valued at $1,714,544. Insiders own 0.91% of the company's stock.

C.H. Robinson Worldwide Trading Up 0.3%

C.H. Robinson Worldwide stock traded up $0.41 during midday trading on Tuesday, reaching $134.39. The stock had a trading volume of 768,071 shares, compared to its average volume of 1,380,462. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87. The company has a fifty day moving average of $119.03 and a 200 day moving average of $103.52. 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 quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.52.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.12. C.H. Robinson Worldwide had a net margin of 3.14% and a return on equity of 35.01%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the firm earned $1.15 earnings per share. The company's quarterly revenue was down 7.7% on a year-over-year basis. On average, analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share 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. Shareholders of record on Friday, September 5th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 5th. C.H. Robinson Worldwide's dividend payout ratio (DPR) is 56.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CHRW shares. JPMorgan Chase & Co. increased their price objective on C.H. Robinson Worldwide from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. 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 note on Thursday, July 31st. Wolfe Research raised C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective on the stock in a research report on Tuesday, July 1st. Stifel Nicolaus boosted their price target on C.H. Robinson Worldwide from $108.00 to $111.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Robert W. Baird raised C.H. Robinson Worldwide from a "neutral" rating to an "outperform" rating and set a $135.00 price target on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $117.24.

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.