Saudi Central Bank Purchases 3,889 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Saudi Central Bank increased its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 89.2% during the second quarter, Holdings Channel reports. The fund owned 8,250 shares of the transportation company’s stock after purchasing an additional 3,889 shares during the period. Saudi Central Bank’s holdings in C.H. Robinson Worldwide were worth $1,554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. NBH Bank bought a new position in shares of C.H. Robinson Worldwide in the second quarter valued at about $29,000. NEOS Investment Management LLC increased its position in C.H. Robinson Worldwide by 17.3% in the 2nd quarter. NEOS Investment Management LLC now owns 19,866 shares of the transportation company’s stock valued at $3,742,000 after acquiring an additional 2,935 shares in the last quarter. Continuum Advisory LLC acquired a new stake in C.H. Robinson Worldwide in the 2nd quarter valued at about $27,000. Nykredit A S bought a new position in shares of C.H. Robinson Worldwide in the second quarter worth about $7,805,000. Finally, Rehmann Capital Advisory Group grew its stake in shares of C.H. Robinson Worldwide by 9.9% during the second quarter. Rehmann Capital Advisory Group now owns 2,349 shares of the transportation company’s stock valued at $443,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Trading Up 1.7%

CHRW opened at $150.10 on Wednesday. The firm’s fifty day moving average is $166.89 and its two-hundred day moving average is $173.60. The firm has a market cap of $17.54 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94. C.H. Robinson Worldwide, Inc. has a twelve month low of $123.64 and a twelve month high of $210.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.58 and a current ratio of 1.58.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.08. The company had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.35 billion. C.H. Robinson Worldwide had a net margin of 3.73% and a return on equity of 38.36%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. Equities research analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.18 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 4th. C.H. Robinson Worldwide’s dividend payout ratio is 48.09%.

Analysts Set New Price Targets

CHRW has been the subject of several research analyst reports. Wolfe Research set a $196.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, July 30th. Citizens Jmp began coverage on C.H. Robinson Worldwide in a research report on Wednesday, July 15th. They set a “market perform” rating and a $235.00 target price for the company. Robert W. Baird cut their price target on C.H. Robinson Worldwide from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Jefferies Financial Group upgraded C.H. Robinson Worldwide from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $200.00 in a research report on Wednesday, May 20th. Finally, Truist Financial lifted their price target on shares of C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, C.H. Robinson Worldwide presently has a consensus rating of “Moderate Buy” and an average price target of $196.56.

About C.H. Robinson Worldwide

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.