Envestnet Asset Management Inc. Trims Stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Envestnet Asset Management Inc. reduced its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 11.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 344,809 shares of the transportation company’s stock after selling 44,795 shares during the period. Envestnet Asset Management Inc. owned 0.29% of C.H. Robinson Worldwide worth $30,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Empirical Finance LLC lifted its holdings in shares of C.H. Robinson Worldwide by 3.4% in the 1st quarter. Empirical Finance LLC now owns 4,271 shares of the transportation company’s stock valued at $325,000 after purchasing an additional 140 shares during the last quarter. Quent Capital LLC increased its position in C.H. Robinson Worldwide by 94.8% in the 2nd quarter. Quent Capital LLC now owns 300 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 146 shares during the period. Redwood Investment Management LLC increased its position in C.H. Robinson Worldwide by 0.6% in the 1st quarter. Redwood Investment Management LLC now owns 28,147 shares of the transportation company’s stock valued at $2,143,000 after acquiring an additional 165 shares during the period. Massmutual Trust Co. FSB ADV increased its position in C.H. Robinson Worldwide by 168.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 295 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 185 shares during the period. Finally, Farther Finance Advisors LLC increased its position in C.H. Robinson Worldwide by 0.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 24,492 shares of the transportation company’s stock valued at $2,126,000 after acquiring an additional 229 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at C.H. Robinson Worldwide

In related news, insider Michael John Short sold 10,894 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $98.38, for a total value of $1,071,751.72. Following the sale, the insider now owns 70,943 shares of the company’s stock, valued at approximately $6,979,372.34. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.47% of the stock is owned by corporate insiders.

C.H. Robinson Worldwide Price Performance

Shares of NASDAQ:CHRW opened at $104.20 on Friday. The business’s 50 day simple moving average is $97.45 and its 200-day simple moving average is $85.63. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.42 and a quick ratio of 1.42. C.H. Robinson Worldwide, Inc. has a 12 month low of $65.00 and a 12 month high of $105.41.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.96 by $0.19. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.53 billion. C.H. Robinson Worldwide had a return on equity of 27.84% and a net margin of 1.90%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. As a group, equities analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.13 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.48 dividend on an annualized basis and a yield of 2.38%. This is a positive change from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. C.H. Robinson Worldwide’s dividend payout ratio is presently 98.02%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America upgraded C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and boosted their price target for the company from $76.00 to $99.00 in a research report on Monday, July 22nd. Wells Fargo & Company boosted their price target on C.H. Robinson Worldwide from $94.00 to $106.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Benchmark boosted their price target on C.H. Robinson Worldwide from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $87.00 to $110.00 in a research report on Thursday, August 1st. Finally, Evercore ISI upgraded C.H. Robinson Worldwide from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $82.00 to $99.00 in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $93.67.

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.