Tower Research Capital LLC TRC Raises Stock Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Aug 19th, 2023

Tower Research Capital LLC TRC grew its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) by 98.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,963 shares of the transportation company’s stock after purchasing an additional 3,452 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Expeditors International of Washington were worth $767,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Expeditors International of Washington by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 19,675,632 shares of the transportation company’s stock worth $2,029,739,000 after purchasing an additional 190,319 shares during the period. Boston Partners increased its stake in shares of Expeditors International of Washington by 19.3% during the first quarter. Boston Partners now owns 3,044,844 shares of the transportation company’s stock worth $335,370,000 after buying an additional 491,704 shares during the period. First Eagle Investment Management LLC raised its holdings in Expeditors International of Washington by 2.7% in the fourth quarter. First Eagle Investment Management LLC now owns 2,752,069 shares of the transportation company’s stock valued at $285,995,000 after acquiring an additional 71,855 shares in the last quarter. Northern Trust Corp lifted its stake in Expeditors International of Washington by 0.3% in the first quarter. Northern Trust Corp now owns 2,486,514 shares of the transportation company’s stock worth $256,508,000 after acquiring an additional 6,839 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Expeditors International of Washington by 517.3% during the 4th quarter. First Trust Advisors LP now owns 2,144,696 shares of the transportation company’s stock worth $222,884,000 after acquiring an additional 1,797,268 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

Expeditors International of Washington Trading Up 1.7 %

Shares of EXPD opened at $115.83 on Friday. The company’s 50 day simple moving average is $120.42 and its 200-day simple moving average is $114.20. The firm has a market cap of $17.13 billion, a PE ratio of 17.37 and a beta of 1.00. Expeditors International of Washington, Inc. has a 12-month low of $86.08 and a 12-month high of $128.04.

Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.04). Expeditors International of Washington had a return on equity of 34.31% and a net margin of 8.36%. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the business posted $2.27 earnings per share. The company’s revenue for the quarter was down 51.3% on a year-over-year basis. As a group, equities research analysts forecast that Expeditors International of Washington, Inc. will post 5.42 EPS for the current fiscal year.

Insider Activity at Expeditors International of Washington

In other Expeditors International of Washington news, CEO Jeffrey S. Musser sold 30,041 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $111.30, for a total transaction of $3,343,563.30. Following the completion of the sale, the chief executive officer now directly owns 116,587 shares of the company’s stock, valued at approximately $12,976,133.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

EXPD has been the topic of a number of analyst reports. Morgan Stanley raised their price objective on shares of Expeditors International of Washington from $84.00 to $86.00 and gave the company an “underweight” rating in a report on Monday, August 14th. Susquehanna lifted their price target on Expeditors International of Washington from $104.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Stifel Nicolaus increased their price objective on Expeditors International of Washington from $99.00 to $115.00 and gave the company a “hold” rating in a report on Wednesday, July 19th. Barclays boosted their target price on Expeditors International of Washington from $90.00 to $95.00 in a research note on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Expeditors International of Washington in a research note on Friday, August 11th. They issued an “underweight” rating and a $110.00 price target on the stock. Four research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, Expeditors International of Washington presently has an average rating of “Hold” and an average price target of $106.18.

Check Out Our Latest Stock Analysis on EXPD

Expeditors International of Washington Company Profile

(Free Report)

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.

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