PNC Financial Services Group Inc. cut its holdings in Expeditors International of Washington (NASDAQ:EXPD) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,083 shares of the transportation company’s stock after selling 741 shares during the period. PNC Financial Services Group Inc.’s holdings in Expeditors International of Washington were worth $1,527,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Flagship Harbor Advisors LLC raised its stake in Expeditors International of Washington by 376.1% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 338 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 267 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in Expeditors International of Washington during the first quarter worth $25,000. CVA Family Office LLC bought a new stake in Expeditors International of Washington in the 1st quarter valued at $52,000. CX Institutional raised its stake in shares of Expeditors International of Washington by 43.6% in the 2nd quarter. CX Institutional now owns 803 shares of the transportation company’s stock valued at $61,000 after buying an additional 244 shares in the last quarter. Finally, NuWave Investment Management LLC bought a new position in shares of Expeditors International of Washington during the 2nd quarter worth about $74,000. 91.06% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Wolfe Research lowered shares of Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, July 7th. BidaskClub raised Expeditors International of Washington from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 15th. Morgan Stanley upped their price target on Expeditors International of Washington from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Wells Fargo & Company began coverage on Expeditors International of Washington in a report on Wednesday. They set an “equal weight” rating and a $97.00 price objective for the company. Finally, Cowen reaffirmed a “hold” rating and issued a $91.00 target price on shares of Expeditors International of Washington in a report on Tuesday, August 4th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $75.75.
In other Expeditors International of Washington news, Director Robert R. Wright sold 9,378 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.27, for a total transaction of $790,284.06. Following the transaction, the director now owns 19,280 shares of the company’s stock, valued at approximately $1,624,725.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Bradley S. Powell sold 130,432 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $84.39, for a total value of $11,007,156.48. Following the completion of the transaction, the chief financial officer now owns 55,455 shares in the company, valued at $4,679,847.45. The disclosure for this sale can be found here. Insiders have sold 470,949 shares of company stock worth $40,463,770 over the last three months. 1.20% of the stock is owned by insiders.
Expeditors International of Washington stock opened at $89.36 on Friday. The business’s fifty day moving average is $88.03 and its two-hundred day moving average is $76.73. The firm has a market cap of $14.98 billion, a P/E ratio of 25.31 and a beta of 0.84. Expeditors International of Washington has a 52 week low of $52.55 and a 52 week high of $95.12.
Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.43. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $1.83 billion. Expeditors International of Washington had a net margin of 7.02% and a return on equity of 28.08%. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, equities analysts forecast that Expeditors International of Washington will post 3.62 EPS for the current year.
About Expeditors International of Washington
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, and other logistics solutions.
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