Allspring Global Investments Holdings LLC Sells 69,321 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Allspring Global Investments Holdings LLC reduced its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 91.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,897 shares of the transportation company’s stock after selling 69,321 shares during the period. Allspring Global Investments Holdings LLC’s holdings in C.H. Robinson Worldwide were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CHRW. Van ECK Associates Corp lifted its holdings in C.H. Robinson Worldwide by 13,682.5% during the first quarter. Van ECK Associates Corp now owns 2,662,511 shares of the transportation company’s stock valued at $202,723,000 after purchasing an additional 2,643,193 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in C.H. Robinson Worldwide by 21.1% in the 1st quarter. First Eagle Investment Management LLC now owns 11,486,055 shares of the transportation company’s stock worth $874,548,000 after buying an additional 2,003,158 shares during the period. Pzena Investment Management LLC purchased a new stake in C.H. Robinson Worldwide in the 1st quarter worth $66,474,000. Norges Bank bought a new stake in C.H. Robinson Worldwide during the fourth quarter valued at about $52,341,000. Finally, Pinebridge Investments L.P. lifted its position in shares of C.H. Robinson Worldwide by 105.5% in the fourth quarter. Pinebridge Investments L.P. now owns 593,653 shares of the transportation company’s stock valued at $51,286,000 after acquiring an additional 304,709 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

C.H. Robinson Worldwide Trading Down 1.9 %

Shares of CHRW stock opened at $102.18 on Friday. The company has a market cap of $11.96 billion, a PE ratio of 40.39, a price-to-earnings-growth ratio of 2.09 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. The stock’s 50 day simple moving average is $94.62 and its two-hundred day simple moving average is $83.71. C.H. Robinson Worldwide, Inc. has a 1 year low of $65.00 and a 1 year high of $105.41.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.19. The company 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%. C.H. Robinson Worldwide’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. Research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.13 earnings per share for the current year.

C.H. Robinson Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, September 6th. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.43%. C.H. Robinson Worldwide’s payout ratio is currently 98.02%.

Insider Activity at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, insider Michael John Short sold 10,894 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $98.38, for a total value of $1,071,751.72. Following the completion of the sale, the insider now owns 70,943 shares of the company’s stock, valued at $6,979,372.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Vertical Research upgraded C.H. Robinson Worldwide from a “sell” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Tuesday, July 9th. Benchmark lifted their price objective on shares of 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. Baird R W upgraded shares of C.H. Robinson Worldwide to a “hold” rating in a research report on Wednesday, July 3rd. UBS Group lifted their price target on shares of C.H. Robinson Worldwide from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their price objective on shares of C.H. Robinson Worldwide from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.67.

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.