Truist Financial Corp Buys 2,821 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Truist Financial Corp grew its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,122 shares of the transportation company’s stock after acquiring an additional 2,821 shares during the quarter. Truist Financial Corp owned about 0.09% of C.H. Robinson Worldwide worth $9,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in C.H. Robinson Worldwide by 13,682.5% during the 1st quarter. Van ECK Associates Corp now owns 2,662,511 shares of the transportation company’s stock valued at $202,723,000 after acquiring an additional 2,643,193 shares during the period. First Eagle Investment Management LLC lifted its position in shares of C.H. Robinson Worldwide by 21.1% during the first quarter. First Eagle Investment Management LLC now owns 11,486,055 shares of the transportation company’s stock worth $874,548,000 after purchasing an additional 2,003,158 shares during the last quarter. Interval Partners LP bought a new stake in shares of C.H. Robinson Worldwide during the second quarter worth $82,581,000. Pzena Investment Management LLC purchased a new stake in shares of C.H. Robinson Worldwide during the first quarter valued at $66,474,000. Finally, Point72 Asset Management L.P. bought a new position in shares of C.H. Robinson Worldwide in the second quarter worth about $69,378,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Activity

In other news, insider Michael John Short sold 10,894 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $98.38, for a total transaction of $1,071,751.72. Following the sale, the insider now directly owns 70,943 shares of the company’s stock, valued at $6,979,372.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.47% of the company’s stock.

C.H. Robinson Worldwide Price Performance

Shares of CHRW opened at $106.73 on Friday. The company has a 50 day moving average of $101.60 and a two-hundred day moving average of $88.26. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.94. C.H. Robinson Worldwide, Inc. has a twelve month low of $65.00 and a twelve month high of $110.51. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 42.19, a price-to-earnings-growth ratio of 2.15 and a beta of 0.82.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.19. C.H. Robinson Worldwide had a return on equity of 27.84% and a net margin of 1.90%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter last year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, analysts predict 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $0.62 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 2.32%. C.H. Robinson Worldwide’s payout ratio is presently 98.02%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Benchmark boosted their price objective on shares of C.H. Robinson Worldwide from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America upgraded C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and boosted their price target for the company from $76.00 to $99.00 in a report on Monday, July 22nd. Wells Fargo & Company raised their price objective on C.H. Robinson Worldwide from $94.00 to $106.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI lifted their target price on C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $87.00 to $110.00 in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $99.53.

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.