Van ECK Associates Corp Sells 2,585,244 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Van ECK Associates Corp trimmed its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 99.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,236 shares of the transportation company’s stock after selling 2,585,244 shares during the quarter. Van ECK Associates Corp’s holdings in C.H. Robinson Worldwide were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHRW. First Eagle Investment Management LLC increased its position 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 valued at $874,548,000 after acquiring an additional 2,003,158 shares in the last quarter. Interval Partners LP bought a new position in C.H. Robinson Worldwide in the 2nd quarter worth approximately $82,581,000. Point72 Asset Management L.P. acquired a new position in C.H. Robinson Worldwide during the 2nd quarter worth $69,378,000. ProShare Advisors LLC boosted its position in C.H. Robinson Worldwide by 26.3% in the 2nd quarter. ProShare Advisors LLC now owns 2,528,787 shares of the transportation company’s stock valued at $222,837,000 after buying an additional 526,872 shares during the last quarter. Finally, Vest Financial LLC increased its stake in shares of C.H. Robinson Worldwide by 44.1% in the 2nd quarter. Vest Financial LLC now owns 627,804 shares of the transportation company’s stock valued at $55,322,000 after buying an additional 192,205 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $109.09 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.42 and a current ratio of 1.49. C.H. Robinson Worldwide, Inc. has a 52 week low of $65.00 and a 52 week high of $113.10. The company’s 50 day moving average price is $106.22 and its two-hundred day moving average price is $95.29. The company has a market capitalization of $12.90 billion, a P/E ratio of 37.75, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.12 by $0.16. The business had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.53 billion. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. On average, analysts expect that C.H. Robinson Worldwide, Inc. will post 4.37 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 Thursday, January 2nd. Investors of record on Friday, December 6th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, December 6th. C.H. Robinson Worldwide’s dividend payout ratio is presently 85.81%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CHRW. Evercore ISI raised their price target on C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Bank of America upgraded shares of C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $99.00 in a research report on Monday, July 22nd. The Goldman Sachs Group increased their price objective on shares of C.H. Robinson Worldwide from $97.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, November 1st. TD Cowen lifted their target price on shares of C.H. Robinson Worldwide from $103.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and increased their price target for the company from $87.00 to $110.00 in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, C.H. Robinson Worldwide currently has an average rating of “Hold” and a consensus target price of $107.00.

C.H. Robinson Worldwide Company 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.