PNC Financial Services Group Inc. Lowers Position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

PNC Financial Services Group Inc. reduced its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 1.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,663 shares of the transportation company’s stock after selling 182 shares during the quarter. PNC Financial Services Group Inc.’s holdings in C.H. Robinson Worldwide were worth $1,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in C.H. Robinson Worldwide in the 3rd quarter valued at $987,000. Banque Cantonale Vaudoise bought a new stake in shares of C.H. Robinson Worldwide during the 3rd quarter worth $1,164,000. Pathstone Holdings LLC boosted its holdings in shares of C.H. Robinson Worldwide by 54.1% in the 3rd quarter. Pathstone Holdings LLC now owns 23,736 shares of the transportation company’s stock worth $2,622,000 after buying an additional 8,334 shares during the last quarter. Zevin Asset Management LLC bought a new position in C.H. Robinson Worldwide during the third quarter valued at about $227,000. Finally, LMR Partners LLP purchased a new stake in C.H. Robinson Worldwide during the third quarter worth about $608,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide stock in a transaction on Monday, November 11th. The shares were sold at an average price of $109.87, for a total transaction of $1,143,526.96. Following the completion of the sale, the insider now directly owns 70,943 shares of the company’s stock, valued at approximately $7,794,507.41. The trade was a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

C.H. Robinson Worldwide Trading Down 1.1 %

Shares of CHRW stock opened at $106.36 on Wednesday. The company has a market capitalization of $12.57 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 1.23 and a beta of 0.84. C.H. Robinson Worldwide, Inc. has a 52-week low of $65.00 and a 52-week high of $113.10. The business’s fifty day moving average is $107.74 and its 200 day moving average is $97.31. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.49 and a current ratio of 1.49.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.16. C.H. Robinson Worldwide had a return on equity of 30.38% and a net margin of 1.96%. The firm had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter last year, the firm posted $0.84 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.4 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, December 6th. This represents a $2.48 annualized dividend and a yield of 2.33%. C.H. Robinson Worldwide’s payout ratio is presently 85.81%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CHRW. Citigroup downgraded shares of C.H. Robinson Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets increased their price objective on C.H. Robinson Worldwide from $92.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Benchmark boosted their target price on C.H. Robinson Worldwide from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird upped their price target on C.H. Robinson Worldwide from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, TD Cowen lifted their price objective on C.H. Robinson Worldwide from $103.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, C.H. Robinson Worldwide has an average rating of “Hold” and a consensus target price of $107.63.

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.