C.H. Robinson Worldwide, Inc. $CHRW Stock: State of Alaska Department of Revenue Increases Stake

State of Alaska Department of Revenue raised its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 1,646.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 201,772 shares of the transportation company’s stock after acquiring an additional 190,222 shares during the period. State of Alaska Department of Revenue’s holdings in C.H. Robinson Worldwide were worth $29,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CHRW. Charles Schwab Trust Co acquired a new position in shares of C.H. Robinson Worldwide during the third quarter worth approximately $3,433,000. Trust Co. of Oklahoma bought a new stake in shares of C.H. Robinson Worldwide in the third quarter valued at approximately $359,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of C.H. Robinson Worldwide in the third quarter worth $8,676,000. Curated Wealth Partners LLC acquired a new stake in shares of C.H. Robinson Worldwide in the third quarter worth $1,001,000. Finally, WealthPlan Investment Management LLC grew its stake in shares of C.H. Robinson Worldwide by 218.5% in the third quarter. WealthPlan Investment Management LLC now owns 8,159 shares of the transportation company’s stock worth $1,207,000 after acquiring an additional 5,597 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

C.H. Robinson Worldwide Stock Performance

CHRW traded up $1.68 during trading on Thursday, reaching $141.13. 534,037 shares of the company’s stock were exchanged, compared to its average volume of 1,968,072. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $125.35 and a fifty-two week high of $210.33. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average price of $147.45 and a 200 day moving average price of $168.17. The company has a market capitalization of $16.49 billion, a P/E ratio of 26.93, a PEG ratio of 1.14 and a beta of 0.94.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.08. C.H. Robinson Worldwide had a net margin of 3.73% and a return on equity of 38.36%. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts predict that C.H. Robinson Worldwide, Inc. will post 6.26 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 4th. C.H. Robinson Worldwide’s payout ratio is 48.09%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHRW. Citizens Jmp began coverage on shares of C.H. Robinson Worldwide in a research report on Wednesday, July 15th. They set a “market perform” rating and a $235.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and issued a $220.00 price target on shares of C.H. Robinson Worldwide in a research report on Tuesday, October 6th. Wall Street Zen upgraded shares of C.H. Robinson Worldwide from a “hold” rating to a “buy” rating in a research report on Wednesday. Sanford C. Bernstein restated a “market perform” rating on shares of C.H. Robinson Worldwide in a report on Tuesday, October 6th. Finally, Stephens reduced their target price on shares of C.H. Robinson Worldwide from $225.00 to $215.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, C.H. Robinson Worldwide presently has an average rating of “Moderate Buy” and a consensus target price of $191.20.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain service providers. The company helps businesses plan, manage and execute the movement of freight across domestic and international markets.

Its services include truckload and less-than-truckload freight brokerage, intermodal transportation, ocean and air freight forwarding, customs services, and transportation management. C.H. Robinson also provides technology and data-driven tools designed to improve shipment planning, visibility, routing and logistics performance.

Founded in 1905 and headquartered in Eden Prairie, Minnesota, C.H.