Bank of Nova Scotia Reduces Stock Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Bank of Nova Scotia lowered its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 49.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,158 shares of the transportation company’s stock after selling 18,730 shares during the quarter. Bank of Nova Scotia’s holdings in C.H. Robinson Worldwide were worth $1,979,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in C.H. Robinson Worldwide by 92,841.1% during the fourth quarter. Van ECK Associates Corp now owns 3,007,574 shares of the transportation company’s stock valued at $310,742,000 after buying an additional 3,004,338 shares during the last quarter. Norges Bank bought a new stake in shares of C.H. Robinson Worldwide during the 4th quarter valued at $134,833,000. Raymond James Financial Inc. purchased a new stake in shares of C.H. Robinson Worldwide in the 4th quarter worth $102,174,000. Wellington Management Group LLP raised its holdings in C.H. Robinson Worldwide by 25.7% in the 4th quarter. Wellington Management Group LLP now owns 2,899,550 shares of the transportation company’s stock worth $299,582,000 after purchasing an additional 593,211 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its position in C.H. Robinson Worldwide by 737.0% during the fourth quarter. Jupiter Asset Management Ltd. now owns 400,418 shares of the transportation company’s stock valued at $41,371,000 after purchasing an additional 352,578 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Price Performance

C.H. Robinson Worldwide stock opened at $91.26 on Monday. C.H. Robinson Worldwide, Inc. has a 52-week low of $65.00 and a 52-week high of $114.82. 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’s fifty day moving average is $97.96 and its 200 day moving average is $103.57. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.16 and a beta of 0.86.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. C.H. Robinson Worldwide had a net margin of 2.63% and a return on equity of 34.53%. Sell-side analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, March 7th. C.H. Robinson Worldwide’s dividend payout ratio is currently 64.42%.

Insider Activity at C.H. Robinson Worldwide

In related news, insider Michael D. Castagnetto sold 5,016 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.60, for a total transaction of $499,593.60. Following the transaction, the insider now directly owns 34,586 shares in the company, valued at approximately $3,444,765.60. This represents a 12.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela K. Freeman sold 8,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $100.39, for a total transaction of $803,120.00. Following the completion of the sale, the insider now directly owns 77,027 shares in the company, valued at $7,732,740.53. This trade represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stifel Nicolaus raised C.H. Robinson Worldwide from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research note on Friday, January 31st. Susquehanna decreased their target price on shares of C.H. Robinson Worldwide from $127.00 to $117.00 and set a “positive” rating on the stock in a research note on Wednesday, March 26th. Citigroup lowered their price target on shares of C.H. Robinson Worldwide from $124.00 to $116.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Stephens restated an “equal weight” rating and set a $111.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, January 30th. Finally, Jefferies Financial Group dropped their target price on shares of C.H. Robinson Worldwide from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $117.20.

About C.H. Robinson Worldwide

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.