Penserra Capital Management LLC Grows Stock Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Posted by on Feb 28th, 2023

Penserra Capital Management LLC lifted its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Get Rating) by 52.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 496 shares of the transportation company’s stock after buying an additional 171 shares during the period. Penserra Capital Management LLC’s holdings in C.H. Robinson Worldwide were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parnassus Investments LLC increased its holdings in shares of C.H. Robinson Worldwide by 46.0% during the 2nd quarter. Parnassus Investments LLC now owns 2,499,873 shares of the transportation company’s stock worth $253,412,000 after buying an additional 787,887 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of C.H. Robinson Worldwide by 70.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,440,384 shares of the transportation company’s stock worth $247,382,000 after buying an additional 1,012,401 shares during the last quarter. Invesco Ltd. increased its holdings in shares of C.H. Robinson Worldwide by 6.5% during the 1st quarter. Invesco Ltd. now owns 1,367,124 shares of the transportation company’s stock worth $147,252,000 after buying an additional 83,250 shares during the last quarter. Eaton Vance Management increased its holdings in shares of C.H. Robinson Worldwide by 27.0% during the 1st quarter. Eaton Vance Management now owns 1,328,146 shares of the transportation company’s stock worth $143,054,000 after buying an additional 282,532 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of C.H. Robinson Worldwide by 1.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,249,845 shares of the transportation company’s stock worth $126,697,000 after buying an additional 13,077 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

C.H. Robinson Worldwide Stock Up 0.6 %

CHRW stock opened at $100.96 on Tuesday. The company has a fifty day moving average price of $97.14 and a 200 day moving average price of $99.95. C.H. Robinson Worldwide, Inc. has a 12 month low of $86.60 and a 12 month high of $121.23. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.08 and a quick ratio of 1.08.

C.H. Robinson Worldwide (NASDAQ:CHRW – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The transportation company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.32). The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.59 billion. C.H. Robinson Worldwide had a return on equity of 54.06% and a net margin of 3.82%. The firm’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.74 EPS. Sell-side analysts expect that C.H. Robinson Worldwide, Inc. will post 4.64 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be given a dividend of $0.61 per share. The ex-dividend date is Thursday, March 2nd. This represents a $2.44 dividend on an annualized basis and a yield of 2.42%. C.H. Robinson Worldwide’s payout ratio is currently 33.42%.

Insiders Place Their Bets

In other C.H. Robinson Worldwide news, insider Michael John Short sold 3,496 shares of the company’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $101.29, for a total transaction of $354,109.84. Following the completion of the transaction, the insider now owns 75,928 shares in the company, valued at approximately $7,690,747.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CHRW has been the subject of several research reports. Susquehanna lifted their target price on shares of C.H. Robinson Worldwide from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. Sanford C. Bernstein dropped their target price on shares of C.H. Robinson Worldwide from $110.00 to $92.00 and set a “market perform” rating for the company in a report on Thursday, February 2nd. JPMorgan Chase & Co. downgraded shares of C.H. Robinson Worldwide from a “neutral” rating to an “underweight” rating and set a $87.00 target price for the company. in a report on Friday, February 17th. The Goldman Sachs Group downgraded shares of C.H. Robinson Worldwide from a “buy” rating to a “neutral” rating and dropped their target price for the company from $102.00 to $93.00 in a report on Tuesday, January 10th. Finally, Cowen downgraded shares of C.H. Robinson Worldwide from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $106.00 to $91.00 in a report on Thursday, January 5th. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.81.

About C.H. Robinson Worldwide

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C.H. Robinson Worldwide, Inc engages in the provision of freight transportation services and logistics solutions. It operates through the following three segments: North American Surface Transportation and Global Forwarding. The North American Surface Transportation segment provides freight transportation services across North America through a network of offices in the United States, Canada, and Mexico.

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Institutional Ownership by Quarter for C.H. Robinson Worldwide (NASDAQ:CHRW)

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