02 Sep Bank of Montreal Can Boosts Stake in C.H. Robinson Worldwid…
Bank of Montreal Can boosted its stake in C.H. Robinson Worldwide Inc (NASDAQ:CHRW) by 19.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 923,782 shares of the transportation company’s stock after buying an additional 148,474 shares during the quarter. Bank of Montreal Can owned approximately 0.68% of C.H. Robinson Worldwide worth $77,922,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Farmers National Bank purchased a new position in shares of C.H. Robinson Worldwide during the 1st quarter worth $26,000. Berman Capital Advisors LLC lifted its stake in shares of C.H. Robinson Worldwide by 245.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 328 shares of the transportation company’s stock worth $27,000 after purchasing an additional 233 shares during the period. Bremer Bank National Association purchased a new position in shares of C.H. Robinson Worldwide during the 1st quarter worth $36,000. Meeder Asset Management Inc. purchased a new position in shares of C.H. Robinson Worldwide during the 2nd quarter worth $42,000. Finally, Signaturefd LLC lifted its stake in shares of C.H. Robinson Worldwide by 98.9% during the 2nd quarter. Signaturefd LLC now owns 527 shares of the transportation company’s stock worth $44,000 after purchasing an additional 262 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Angela K. Freeman sold 16,356 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $84.88, for a total value of $1,388,297.28. Following the completion of the sale, the insider now directly owns 47,594 shares in the company, valued at approximately $4,039,778.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Wiehoff sold 8,392 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $85.93, for a total value of $721,124.56. Following the completion of the sale, the insider now owns 34,499 shares of the company’s stock, valued at $2,964,499.07. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on CHRW. BidaskClub raised C.H. Robinson Worldwide from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Citigroup lowered C.H. Robinson Worldwide from a “buy” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research report on Friday, July 26th. Finally, Morgan Stanley set a $65.00 target price on C.H. Robinson Worldwide and gave the stock a “sell” rating in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $89.44.
Shares of CHRW opened at $84.49 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $11.39 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.96 and a beta of 0.65. The stock’s fifty day simple moving average is $83.76 and its 200 day simple moving average is $85.25. C.H. Robinson Worldwide Inc has a twelve month low of $77.72 and a twelve month high of $101.20.
C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.22 earnings per share for the quarter, hitting the consensus estimate of $1.22. C.H. Robinson Worldwide had a return on equity of 42.88% and a net margin of 4.31%. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the company posted $1.13 EPS. The business’s quarterly revenue was down 8.6% on a year-over-year basis. Sell-side analysts predict that C.H. Robinson Worldwide Inc will post 4.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.00 annualized dividend and a yield of 2.37%. C.H. Robinson Worldwide’s dividend payout ratio is currently 42.28%.
About C.H. Robinson Worldwide
C.H. Robinson Worldwide, Inc, a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates through North American Surface Transportation and Global Forwarding segments. It offers transportation and logistics services, such as truckload; less than truckload transportation, which include the shipment of single or multiple pallets of freight; intermodal transportation that include the shipment service of freight in trailers or containers by a combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, as well as organizes air shipments and offers door-to-door services.
Read More: Cost of Equity For A Business, Investors
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