Michael D. Castagnetto, President of North American Surface Transportation (NAST) at C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW), reported a significant stock transaction at the end of 2024. According to a recent SEC filing, Castagnetto sold 2,032 shares of the company’s common stock on December 31, 2024, at an average price of $103.81 per share, totaling approximately $210,941.
Additionally, the filing noted that 897 shares were withheld by the issuer to cover tax obligations related to the vesting of restricted stock units. After these transactions, Castagnetto holds 34,469 shares, which includes shares from vested deferred shares and restricted stock units, as well as shares acquired through the company's employee stock purchase plan. According to InvestingPro, C.H. Robinson maintains a "FAIR" overall financial health score and has demonstrated remarkable dividend consistency, raising payments for 28 consecutive years. InvestingPro analysis reveals 12 additional key insights about CHRW's valuation and market position, available with a subscription.
In other recent news, C.H. Robinson Worldwide has reported a 75% increase in adjusted income from operations in its third-quarter earnings call. The Global Forwarding division saw a substantial 230% rise year-over-year, attributed to operational improvements and the successful integration of generative AI. This technology is projected to yield over a 30% increase in shipments per person per day by the end of 2024.
The company also unveiled the Robinson Operating Model during its Investor Day event, a strategy set to overhaul the company's structure, processes, and focus. Financial services firms such as Stifel, TD Cowen, Baird, and Jefferies have all revised their price targets for the company. Wells Fargo (NYSE:WFC) and Citi have upgraded the stock, highlighting the company's focus on cost reduction and operational enhancements.
C.H. Robinson has also declared a regular quarterly cash dividend of $0.62 per share, continuing an unbroken streak of annual increases per share for over 25 years. These are recent developments that investors should consider.
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