Public Sector Pension Investment Board Sells 7,513 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Dec 2nd, 2022

Public Sector Pension Investment Board trimmed its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 31.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,180 shares of the transportation company’s stock after selling 7,513 shares during the quarter. Public Sector Pension Investment Board’s holdings in Expeditors International of Washington were worth $1,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in Expeditors International of Washington by 1,025.5% in the 1st quarter. Renaissance Technologies LLC now owns 990,616 shares of the transportation company’s stock worth $102,192,000 after acquiring an additional 902,600 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Expeditors International of Washington by 266.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,180,808 shares of the transportation company’s stock worth $115,083,000 after acquiring an additional 858,185 shares during the last quarter. Boston Partners increased its stake in Expeditors International of Washington by 48.7% in the 1st quarter. Boston Partners now owns 2,325,812 shares of the transportation company’s stock worth $239,891,000 after acquiring an additional 761,882 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Expeditors International of Washington by 99.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,060,119 shares of the transportation company’s stock worth $103,319,000 after acquiring an additional 529,349 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Expeditors International of Washington by 25.3% in the 2nd quarter. ProShare Advisors LLC now owns 1,690,627 shares of the transportation company’s stock worth $164,768,000 after acquiring an additional 341,571 shares during the last quarter. 89.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXPD has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Expeditors International of Washington in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Susquehanna decreased their target price on Expeditors International of Washington from $110.00 to $95.00 in a research note on Wednesday, November 9th. Morgan Stanley reduced their price objective on Expeditors International of Washington from $94.00 to $86.00 and set an “underweight” rating on the stock in a research report on Monday, October 3rd. Susquehanna Bancshares reduced their price objective on Expeditors International of Washington from $110.00 to $95.00 in a research report on Wednesday, November 9th. Finally, Barclays reduced their price objective on Expeditors International of Washington from $95.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, October 13th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.78.

Expeditors International of Washington Price Performance

Shares of EXPD stock opened at $115.25 on Friday. The stock has a market capitalization of $18.34 billion, a PE ratio of 12.11 and a beta of 0.93. Expeditors International of Washington, Inc. has a 1-year low of $86.08 and a 1-year high of $137.80. The business has a 50-day moving average of $99.32 and a 200 day moving average of $101.00.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last issued its earnings results on Tuesday, November 8th. The transportation company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.62. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Expeditors International of Washington had a return on equity of 44.27% and a net margin of 8.36%. Expeditors International of Washington’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.09 EPS. Analysts anticipate that Expeditors International of Washington, Inc. will post 8.22 EPS for the current year.

Expeditors International of Washington Announces Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.67 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 30th. Expeditors International of Washington’s dividend payout ratio is presently 14.08%.

Insiders Place Their Bets

In other Expeditors International of Washington news, CFO Bradley S. Powell sold 17,206 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $106.23, for a total value of $1,827,793.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Expeditors International of Washington news, insider Eugene K. Alger sold 11,500 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $113.43, for a total value of $1,304,445.00. Following the completion of the sale, the insider now owns 17,879 shares in the company, valued at approximately $2,028,014.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Bradley S. Powell sold 17,206 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $106.23, for a total value of $1,827,793.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,692 shares of company stock worth $3,237,336. 0.55% of the stock is currently owned by company insiders.

Expeditors International of Washington Company Profile

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Expeditors International of Washington, Inc 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.