PNC Financial Services Group Inc. Buys 1,633 Shares of C.H. Robinson Worldwide, Inc. $CHRW

PNC Financial Services Group Inc. raised its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 10.8% during the second quarter, HoldingsChannel.com reports. The fund owned 16,788 shares of the transportation company’s stock after purchasing an additional 1,633 shares during the quarter. PNC Financial Services Group Inc.’s holdings in C.H. Robinson Worldwide were worth $1,611,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. New York State Teachers Retirement System increased its stake in C.H. Robinson Worldwide by 12.8% in the 2nd quarter. New York State Teachers Retirement System now owns 100,735 shares of the transportation company’s stock worth $9,666,000 after buying an additional 11,443 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in C.H. Robinson Worldwide by 118.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,905 shares of the transportation company’s stock worth $3,472,000 after buying an additional 18,390 shares in the last quarter. Vest Financial LLC raised its position in shares of C.H. Robinson Worldwide by 16.3% in the 2nd quarter. Vest Financial LLC now owns 589,485 shares of the transportation company’s stock worth $56,561,000 after acquiring an additional 82,609 shares in the last quarter. Intech Investment Management LLC raised its holdings in C.H. Robinson Worldwide by 44.2% in the first quarter. Intech Investment Management LLC now owns 29,728 shares of the transportation company’s stock worth $3,044,000 after purchasing an additional 9,115 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in C.H. Robinson Worldwide by 30.6% during the second quarter. Envestnet Asset Management Inc. now owns 320,884 shares of the transportation company’s stock valued at $30,789,000 after acquiring an additional 75,212 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHRW has been the subject of a number of research analyst reports. Cowen reiterated a “hold” rating on shares of C.H. Robinson Worldwide in a research note on Thursday, October 30th. Morgan Stanley upped their price target on shares of C.H. Robinson Worldwide from $71.00 to $77.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Benchmark reaffirmed a “buy” rating on shares of C.H. Robinson Worldwide in a research note on Thursday, October 30th. Wells Fargo & Company upped their price target on C.H. Robinson Worldwide from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Baird R W raised shares of C.H. Robinson Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, C.H. Robinson Worldwide currently has an average rating of “Moderate Buy” and an average target price of $143.00.

Insider Buying and Selling

In other news, insider Michael D. Castagnetto sold 45,266 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $151.70, for a total value of $6,866,852.20. Following the completion of the sale, the insider directly owned 34,046 shares of the company’s stock, valued at approximately $5,164,778.20. This represents a 57.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela K. Freeman sold 49,884 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $149.71, for a total transaction of $7,468,133.64. Following the sale, the insider owned 65,728 shares of the company’s stock, valued at approximately $9,840,138.88. This represents a 43.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.91% of the company’s stock.

C.H. Robinson Worldwide Trading Down 0.2%

Shares of CHRW stock opened at $151.36 on Thursday. The stock has a market capitalization of $17.88 billion, a P/E ratio of 30.70, a price-to-earnings-growth ratio of 1.79 and a beta of 0.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.31 and a current ratio of 1.31. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $84.68 and a fifty-two week high of $158.70. The company has a 50 day moving average price of $137.29 and a 200 day moving average price of $116.23.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. C.H. Robinson Worldwide had a net margin of 3.64% and a return on equity of 35.32%. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. Equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be paid a $0.63 dividend. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.62. This represents a $2.52 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, December 5th. C.H. Robinson Worldwide’s payout ratio is currently 51.12%.

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.