QRG Capital Management Inc. Cuts Stake in C.H. Robinson Worldwide, Inc. $CHRW

QRG Capital Management Inc. lessened its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 80.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,408 shares of the transportation company’s stock after selling 10,080 shares during the quarter. QRG Capital Management Inc.’s holdings in C.H. Robinson Worldwide were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Arlington Trust Co LLC bought a new position in shares of C.H. Robinson Worldwide during the third quarter valued at about $34,000. Quent Capital LLC purchased a new stake in C.H. Robinson Worldwide during the 3rd quarter valued at about $37,000. CYBER HORNET ETFs LLC bought a new position in C.H. Robinson Worldwide during the 2nd quarter worth approximately $30,000. MUFG Securities EMEA plc purchased a new position in C.H. Robinson Worldwide in the 2nd quarter worth approximately $34,000. Finally, FNY Investment Advisers LLC purchased a new position in C.H. Robinson Worldwide in the 2nd quarter worth approximately $38,000. 93.15% of the stock is owned by institutional investors.

Insider Activity at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 1,230 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $175.00, for a total transaction of $215,250.00. Following the sale, the insider owned 53,928 shares in the company, valued at approximately $9,437,400. The trade was a 2.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Angela K. Freeman sold 49,884 shares of the company’s stock in a transaction dated 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 directly owned 65,728 shares in the company, valued at $9,840,138.88. This represents a 43.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 98,770 shares of company stock worth $14,937,201 over the last ninety days. 1.47% of the stock is owned by corporate insiders.

C.H. Robinson Worldwide Price Performance

Shares of NASDAQ CHRW opened at $176.66 on Friday. C.H. Robinson Worldwide, Inc. has a 1 year low of $84.68 and a 1 year high of $180.21. The stock has a market capitalization of $20.87 billion, a P/E ratio of 35.83, a P/E/G ratio of 1.91 and a beta of 0.91. The company’s 50-day moving average is $163.16 and its 200 day moving average is $138.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.59 and a quick ratio of 1.59.

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

C.H. Robinson Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were given a dividend of $0.63 per share. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.62. This represents a $2.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, December 5th. C.H. Robinson Worldwide’s dividend payout ratio is presently 51.12%.

Wall Street Analysts Forecast Growth

CHRW has been the subject of a number of analyst reports. Weiss Ratings lowered C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Stephens set a $173.00 price target on shares of C.H. Robinson Worldwide in a research report on Thursday, October 30th. TD Cowen reissued a “hold” rating on shares of C.H. Robinson Worldwide in a report on Friday, January 9th. Truist Financial boosted their price objective on shares of C.H. Robinson Worldwide from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Finally, Sanford C. Bernstein increased their target price on shares of C.H. Robinson Worldwide from $135.00 to $153.00 and gave the stock a “market perform” rating in a report on Friday, January 9th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.70.

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.