Norges Bank Invests $134.83 Million in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Norges Bank acquired a new position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,305,004 shares of the transportation company’s stock, valued at approximately $134,833,000.

Several other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in 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 lifted its position in shares of 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 worth $282,303,000 after purchasing an additional 2,449,367 shares during the last quarter. D.A. Davidson & CO. boosted its stake in 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 increased its position in 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in C.H. Robinson Worldwide in the 3rd quarter worth approximately $1,021,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of C.H. Robinson Worldwide from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Stifel Nicolaus upgraded shares of C.H. Robinson Worldwide from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a report on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of C.H. Robinson Worldwide from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Robert W. Baird lifted their target price on C.H. Robinson Worldwide from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Truist Financial assumed coverage on C.H. Robinson Worldwide in a report on Thursday, March 13th. They issued a “buy” rating and a $115.00 price target for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, C.H. Robinson Worldwide presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.89.

C.H. Robinson Worldwide Price Performance

NASDAQ:CHRW opened at $102.40 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.28 and a debt-to-equity ratio of 0.54. The firm has a market cap of $12.11 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.16 and a beta of 0.83. C.H. Robinson Worldwide, Inc. has a 12 month low of $65.00 and a 12 month high of $114.82. The company’s 50-day moving average price is $100.56 and its two-hundred day moving average price is $104.45.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, January 29th. The transportation company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.53% and a net margin of 2.63%. On average, equities analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

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

Insider Activity at C.H. Robinson Worldwide

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

C.H. Robinson Worldwide Profile

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.