Norges Bank Acquires New Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Norges Bank bought a new stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,305,004 shares of the transportation company’s stock, valued at approximately $134,833,000. Norges Bank owned approximately 1.10% of C.H. Robinson Worldwide as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC increased its stake in shares of C.H. Robinson Worldwide by 39.8% during the third quarter. Cerity Partners LLC now owns 22,854 shares of the transportation company’s stock valued at $2,522,000 after acquiring an additional 6,507 shares during the period. FMR LLC boosted its stake in C.H. Robinson Worldwide by 2,259.1% during the 3rd quarter. FMR LLC now owns 2,557,791 shares of the transportation company’s stock valued at $282,303,000 after purchasing an additional 2,449,367 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of C.H. Robinson Worldwide by 7.1% during the 3rd quarter. D.A. Davidson & CO. now owns 6,709 shares of the transportation company’s stock valued at $741,000 after purchasing an additional 443 shares during the period. Glenmede Trust Co. NA raised its stake in shares of C.H. Robinson Worldwide by 11.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,760 shares of the transportation company’s stock worth $856,000 after buying an additional 774 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of C.H. Robinson Worldwide in the third quarter valued at $1,021,000. 93.15% of the stock is currently owned by institutional investors.

C.H. Robinson Worldwide Price Performance

NASDAQ CHRW opened at $102.40 on Tuesday. The company has a 50 day simple moving average of $100.56 and a 200-day simple moving average of $104.45. C.H. Robinson Worldwide, Inc. has a 52-week low of $65.00 and a 52-week high of $114.82. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 1.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.28 and a quick ratio of 1.49.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Wednesday, January 29th. The transportation company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. C.H. Robinson Worldwide had a net margin of 2.63% and a return on equity of 34.53%. Equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.48 dividend on an annualized basis and a yield of 2.42%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is currently 64.42%.

Wall Street Analyst Weigh In

Several brokerages have commented on CHRW. Susquehanna dropped their price target on shares of C.H. Robinson Worldwide from $127.00 to $117.00 and set a “positive” rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their target price on shares of C.H. Robinson Worldwide from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Raymond James reduced their target price on shares of C.H. Robinson Worldwide from $123.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and issued a $125.00 price target on shares of C.H. Robinson Worldwide in a report on Friday, January 31st. Finally, StockNews.com lowered C.H. Robinson Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, C.H. Robinson Worldwide has an average rating of “Moderate Buy” and a consensus target price of $118.89.

Insiders Place Their Bets

In other C.H. Robinson Worldwide news, insider Michael D. Castagnetto sold 5,016 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.60, for a total value of $499,593.60. Following the completion of the sale, the insider now directly owns 34,586 shares of the company’s stock, valued at $3,444,765.60. The trade was a 12.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Angela K. Freeman sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $100.39, for a total transaction of $803,120.00. Following the transaction, the insider now owns 77,027 shares in the company, valued at $7,732,740.53. This represents a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company 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 comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.