Laurus Global Equity Management Inc. Makes New $4.59 Million Investment in C.H. Robinson Worldwide, Inc. $CHRW

Laurus Global Equity Management Inc. acquired a new stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) during the 4th quarter, HoldingsChannel reports. The fund acquired 28,520 shares of the transportation company’s stock, valued at approximately $4,585,000. C.H. Robinson Worldwide accounts for approximately 3.7% of Laurus Global Equity Management Inc.’s portfolio, making the stock its 8th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of CHRW. Wellington Management Group LLP increased its stake in C.H. Robinson Worldwide by 198.6% during the 3rd quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock worth $945,773,000 after buying an additional 4,751,034 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of C.H. Robinson Worldwide in the third quarter worth approximately $72,929,000. Raymond James Financial Inc. increased its position in shares of C.H. Robinson Worldwide by 68.5% during the third quarter. Raymond James Financial Inc. now owns 1,051,312 shares of the transportation company’s stock worth $139,194,000 after purchasing an additional 427,543 shares in the last quarter. Earnest Partners LLC acquired a new position in C.H. Robinson Worldwide in the 3rd quarter valued at $54,313,000. Finally, State Street Corp lifted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Trading Up 0.6%

Shares of CHRW traded up $1.16 during mid-day trading on Thursday, reaching $183.51. The stock had a trading volume of 77,758 shares, compared to its average volume of 2,182,311. C.H. Robinson Worldwide, Inc. has a 52-week low of $86.58 and a 52-week high of $203.34. The firm has a market cap of $21.63 billion, a price-to-earnings ratio of 37.99, a P/E/G ratio of 1.91 and a beta of 0.93. The business’s fifty day moving average is $174.96 and its 200 day moving average is $164.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.53 and a quick ratio of 1.53.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its earnings results on Wednesday, January 28th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.97 billion. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. C.H. Robinson Worldwide’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. On average, sell-side analysts predict that C.H. Robinson Worldwide, Inc. will post 5.98 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, March 6th. C.H. Robinson Worldwide’s payout ratio is presently 52.17%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CHRW shares. TD Cowen lifted their target price on shares of C.H. Robinson Worldwide from $165.00 to $194.00 and gave the stock a “hold” rating in a research note on Thursday, January 29th. Citigroup raised their price target on shares of C.H. Robinson Worldwide from $177.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Wolfe Research reaffirmed an “outperform” rating and set a $188.00 price objective on shares of C.H. Robinson Worldwide in a research note on Thursday, January 8th. Weiss Ratings downgraded shares of C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Finally, Truist Financial boosted their target price on C.H. Robinson Worldwide from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, C.H. Robinson Worldwide presently has an average rating of “Moderate Buy” and an average target price of $186.22.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Angela K. Freeman sold 8,579 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $200.52, for a total value of $1,720,261.08. Following the completion of the transaction, the insider directly owned 55,611 shares in the company, valued at approximately $11,151,117.72. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David P. Bozeman bought 1,223 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were acquired at an average cost of $163.34 per share, with a total value of $199,764.82. Following the purchase, the chief executive officer owned 190,600 shares of the company’s stock, valued at $31,132,604. The trade was a 0.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 2,422 shares of company stock valued at $400,801 and sold 17,796 shares valued at $3,555,415. Insiders own 0.37% of the company’s stock.

C.H. Robinson Worldwide 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.