Power Corp of Canada purchased a new position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,804 shares of the transportation company's stock, valued at approximately $2,456,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Expeditors International of Washington by 8.6% in the 4th quarter. BlackRock Inc. now owns 22,923,231 shares of the transportation company's stock valued at $3,078,361,000 after purchasing an additional 1,812,773 shares during the last quarter. Norges Bank purchased a new position in Expeditors International of Washington during the 4th quarter worth $188,947,000. Renaissance Technologies LLC raised its position in Expeditors International of Washington by 1,025.5% during the 1st quarter. Renaissance Technologies LLC now owns 990,616 shares of the transportation company's stock worth $102,192,000 after buying an additional 902,600 shares during the last quarter. Boston Partners increased its holdings in shares of 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 valued at $239,891,000 after purchasing an additional 761,882 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Expeditors International of Washington by 29.6% in the 4th quarter. Invesco Ltd. now owns 2,509,534 shares of the transportation company's stock valued at $337,005,000 after purchasing an additional 573,030 shares in the last quarter. Institutional investors and hedge funds own 89.56% of the company's stock.
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Analyst Ratings Changes
A number of equities analysts have recently issued reports on EXPD shares. Wolfe Research downgraded shares of Expeditors International of Washington from a "peer perform" rating to an "underperform" rating in a report on Tuesday, July 12th. StockNews.com raised shares of Expeditors International of Washington from a "hold" rating to a "buy" rating in a research note on Friday, August 19th. Barclays decreased their price target on shares of Expeditors International of Washington from $105.00 to $95.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 12th. Finally, Wells Fargo & Company decreased their price target on shares of Expeditors International of Washington from $101.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Friday, July 15th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $108.38.
Expeditors International of Washington Price Performance
NASDAQ EXPD traded up $1.59 during mid-day trading on Monday, hitting $105.03. The company's stock had a trading volume of 8,330 shares, compared to its average volume of 1,365,657. The firm has a market capitalization of $17.62 billion, a P/E ratio of 11.40 and a beta of 0.87. The stock's fifty day simple moving average is $102.42 and its two-hundred day simple moving average is $102.45. Expeditors International of Washington, Inc. has a 52-week low of $92.58 and a 52-week high of $137.80.
Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The transportation company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.14. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.70 billion. Expeditors International of Washington had a net margin of 8.09% and a return on equity of 42.95%. The business's quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 earnings per share. On average, equities analysts forecast that Expeditors International of Washington, Inc. will post 7.87 earnings per share for the current fiscal year.
About Expeditors International of Washington
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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.
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