AlphaCrest Capital Management LLC lifted its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Get Rating) by 56.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,163 shares of the transportation company’s stock after acquiring an additional 6,567 shares during the period. AlphaCrest Capital Management LLC’s holdings in C.H. Robinson Worldwide were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of C.H. Robinson Worldwide during the second quarter worth $25,000. Penserra Capital Management LLC acquired a new position in C.H. Robinson Worldwide during the first quarter worth about $30,000. First Horizon Advisors Inc. grew its stake in C.H. Robinson Worldwide by 377.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 325 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 257 shares in the last quarter. CX Institutional acquired a new stake in C.H. Robinson Worldwide in the 2nd quarter valued at about $36,000. Finally, ACG Wealth acquired a new position in shares of C.H. Robinson Worldwide during the 2nd quarter worth approximately $42,000. 92.16% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on CHRW. UBS Group reduced their price objective on C.H. Robinson Worldwide from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. BMO Capital Markets reduced their price target on C.H. Robinson Worldwide from $110.00 to $100.00 and set a “market perform” rating on the stock in a report on Thursday, November 3rd. Jefferies Financial Group started coverage on shares of C.H. Robinson Worldwide in a report on Monday, October 24th. They issued a “hold” rating and a $100.00 price objective for the company. Vertical Research raised shares of C.H. Robinson Worldwide from a “sell” rating to a “hold” rating in a research note on Friday, October 14th. Finally, KeyCorp decreased their target price on shares of C.H. Robinson Worldwide from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, November 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, C.H. Robinson Worldwide has a consensus rating of “Hold” and an average price target of $106.67.
C.H. Robinson Worldwide Stock Up 0.4 %
C.H. Robinson Worldwide Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 2nd will be paid a dividend of $0.61 per share. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, December 1st. This represents a $2.44 annualized dividend and a yield of 2.49%. C.H. Robinson Worldwide’s payout ratio is presently 26.70%.
C.H. Robinson Worldwide Company Profile
C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates in two segments, North American Surface Transportation and Global Forwarding. It 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 comprise the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel ocean common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.
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