Texas Permanent School Fund Corp Cuts Holdings in C.H. Robinson Worldwide, Inc. $CHRW

Texas Permanent School Fund Corp lowered its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 40.0% during the second quarter, Holdings Channel.com reports. The fund owned 7,739 shares of the transportation company’s stock after selling 5,168 shares during the quarter. Texas Permanent School Fund Corp’s holdings in C.H. Robinson Worldwide were worth $743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in shares of C.H. Robinson Worldwide in the 2nd quarter worth about $30,000. WPG Advisers LLC purchased a new stake in shares of C.H. Robinson Worldwide during the 1st quarter worth about $32,000. MUFG Securities EMEA plc acquired a new stake in C.H. Robinson Worldwide during the 2nd quarter worth approximately $34,000. FNY Investment Advisers LLC purchased a new position in C.H. Robinson Worldwide in the second quarter valued at approximately $38,000. Finally, Cullen Frost Bankers Inc. lifted its position in C.H. Robinson Worldwide by 203.4% during the second quarter. Cullen Frost Bankers Inc. now owns 446 shares of the transportation company’s stock valued at $43,000 after buying an additional 299 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at C.H. Robinson Worldwide

In other news, insider Michael D. Castagnetto sold 45,266 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $151.70, for a total transaction of $6,866,852.20. Following the completion of the sale, the insider owned 34,046 shares of the company’s stock, valued at approximately $5,164,778.20. This trade represents a 57.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela K. Freeman sold 49,884 shares of C.H. Robinson Worldwide stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $149.71, for a total transaction of $7,468,133.64. Following the completion of the sale, the insider owned 65,728 shares of the company’s stock, valued at approximately $9,840,138.88. This trade represents a 43.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CHRW shares. Barclays raised shares of C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $145.00 to $200.00 in a research report on Tuesday, December 16th. Benchmark reaffirmed a “buy” rating on shares of C.H. Robinson Worldwide in a research report on Thursday, October 30th. Wells Fargo & Company increased their price target on C.H. Robinson Worldwide from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Citigroup cut C.H. Robinson Worldwide from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $134.00 to $148.00 in a research note on Wednesday, October 8th. Finally, Evercore ISI upped their target price on C.H. Robinson Worldwide from $155.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.48.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $164.94 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.59 and a quick ratio of 1.59. The company’s fifty day moving average price is $151.25 and its two-hundred day moving average price is $127.58. The firm has a market capitalization of $19.49 billion, a P/E ratio of 33.46, a P/E/G ratio of 2.16 and a beta of 0.90. C.H. Robinson Worldwide, Inc. has a 12 month low of $84.68 and a 12 month high of $167.90.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, October 29th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.77% and a net margin of 3.64%.The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, research analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. This is a positive change from C.H. Robinson Worldwide’s previous quarterly dividend of $0.62. C.H. Robinson Worldwide’s dividend payout ratio is currently 51.12%.

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.