Eastern Bank Takes Position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Eastern Bank acquired a new stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 490 shares of the transportation company’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB bought a new stake in C.H. Robinson Worldwide during the 1st quarter valued at $1,051,000. Norden Group LLC bought a new stake in C.H. Robinson Worldwide during the 1st quarter valued at $4,585,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in C.H. Robinson Worldwide by 13.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 214,098 shares of the transportation company’s stock valued at $16,301,000 after purchasing an additional 26,156 shares in the last quarter. Cetera Advisors LLC purchased a new position in C.H. Robinson Worldwide during the 1st quarter worth $6,665,000. Finally, Janney Montgomery Scott LLC boosted its holdings in C.H. Robinson Worldwide by 30.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 144,984 shares of the transportation company’s stock worth $11,039,000 after acquiring an additional 33,995 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Trading Up 1.3 %

Shares of CHRW opened at $108.12 on Friday. C.H. Robinson Worldwide, Inc. has a 1-year low of $65.00 and a 1-year high of $113.10. 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 firm’s 50 day simple moving average is $105.17 and its 200 day simple moving average is $91.93. The company has a market capitalization of $12.66 billion, a P/E ratio of 42.74, a P/E/G ratio of 2.19 and a beta of 0.82.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.19. C.H. Robinson Worldwide had a net margin of 1.90% and a return on equity of 27.84%. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter last year, the business earned $0.90 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. Sell-side analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.13 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $0.62 dividend. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.48 annualized dividend and a dividend yield of 2.29%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is currently 98.02%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Susquehanna boosted their price target on shares of C.H. Robinson Worldwide from $95.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Robert W. Baird boosted their price target on shares of C.H. Robinson Worldwide from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Evercore ISI boosted their price target on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Bank of America upgraded C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $99.00 in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. upgraded C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $87.00 to $110.00 in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, C.H. Robinson Worldwide presently has a consensus rating of “Hold” and an average price target of $100.29.

Insider Transactions at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 10,894 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 70,943 shares in the company, valued at approximately $6,979,372.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.47% of the company’s stock.

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.