CH Robinson’s Michael Castagnetto sells $210,941 worth of stock By Investing.com

By CH Robinson Worldwide, Inc. (NASDAQ:) North American Ground Transportation (NAST) President Michael D. Castagnetto It reported high stock trading at the end of 2024. According to a recent SEC filing, Castagnito sold 2,032 shares. The Company’s common stock will average $103.81 per share on December 31, 2024, for a total of approximately $210,941.

Further, 897 shares have been blocked by the issuer to cover tax liabilities related to the issuance of restricted share units, the filing said. After these transactions, Castagneto will hold 34,469 shares, which include restricted shares and restricted stock units, as well as shares acquired through the company’s employee stock purchase plan. As he says Invest ProCH Robinson has achieved a “fair” overall financial health score and has demonstrated impressive dividend consistency, paying dividends for 28 consecutive years. InvestingPro’s analysis reveals 12 additional key insights into CHRW’s valuation and market conditions, along with a subscription.

In other recent news, CH Robinson Worldwide reported a 75% increase in adjusted income from operations during its third quarter earnings call. The Global Forwarding segment saw a significant year-over-year growth of 230%, driven by operational improvements and the successful integration of Generative AI. This technology is predicted to provide more than 30% of the load per person by the end of 2024.

The company unveiled the Robinson Operating Model during its Investor Day presentation, a strategy designed to improve the company’s structure, processes and focus. Financial services firms such as Stifel, TD Cowen, Baird and Jefferies all upgraded the company’s price target. Wells Fargo (NYSE: ) and Citi upgraded the stock, highlighting the company’s focus on cost-cutting and operational improvements.

CH Robinson declared a regular quarterly cash distribution of $0.62 per share, continuing its 25-year streak of uninterrupted annual increases per share. These are the latest developments that investors should consider.

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