Lord Abbett & CO. LLC Invests $11.87 Million in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Lord Abbett & CO. LLC purchased a new stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 107,500 shares of the transportation company’s stock, valued at approximately $11,865,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHRW. FMR LLC lifted its stake in shares of C.H. Robinson Worldwide by 2,259.1% in the 3rd quarter. FMR LLC now owns 2,557,791 shares of the transportation company’s stock valued at $282,303,000 after purchasing an additional 2,449,367 shares during the last quarter. Interval Partners LP bought a new stake in C.H. Robinson Worldwide in the second quarter worth $82,581,000. Point72 Asset Management L.P. purchased a new position in C.H. Robinson Worldwide during the second quarter worth $69,378,000. ProShare Advisors LLC increased its position in C.H. Robinson Worldwide by 26.3% during the second quarter. ProShare Advisors LLC now owns 2,528,787 shares of the transportation company’s stock valued at $222,837,000 after acquiring an additional 526,872 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of C.H. Robinson Worldwide by 137.8% in the third quarter. Citigroup Inc. now owns 431,033 shares of the transportation company’s stock valued at $47,573,000 after acquiring an additional 249,774 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CHRW has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $118.00 to $130.00 in a research note on Monday, December 9th. The Goldman Sachs Group upped their target price on C.H. Robinson Worldwide from $97.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Robert W. Baird boosted their price objective on C.H. Robinson Worldwide from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Friday. Susquehanna reduced their target price on C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, UBS Group upgraded C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $140.00 in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $112.88.

Insiders Place Their Bets

In other news, insider Michael John Short sold 10,408 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 70,943 shares in the company, valued at $7,794,507.41. This represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.47% of the company’s stock.

C.H. Robinson Worldwide Trading Down 1.1 %

Shares of NASDAQ:CHRW opened at $110.11 on Tuesday. The company has a market capitalization of $13.02 billion, a PE ratio of 38.10, a P/E/G ratio of 1.25 and a beta of 0.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.86. C.H. Robinson Worldwide, Inc. has a 12-month low of $65.00 and a 12-month high of $114.82. The business’s fifty day simple moving average is $108.16 and its 200-day simple moving average is $99.79.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, October 30th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the company posted $0.84 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.38 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.48 annualized dividend and a yield of 2.25%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 85.81%.

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.