Morse Asset Management Inc lowered its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 22.5% during the second quarter, Holdings Channel reports. The firm owned 42,100 shares of the transportation company’s stock after selling 12,200 shares during the period. Morse Asset Management Inc’s holdings in Expeditors International of Washington were worth $2,378,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Expeditors International of Washington by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,172,075 shares of the transportation company’s stock worth $1,083,031,000 after buying an additional 450,763 shares during the period. BlackRock Inc. boosted its position in Expeditors International of Washington by 1,951.4% in the first quarter. BlackRock Inc. now owns 14,494,247 shares of the transportation company’s stock worth $818,780,000 after buying an additional 13,787,678 shares during the period. Loomis Sayles & Co. L P boosted its position in Expeditors International of Washington by 0.3% in the first quarter. Loomis Sayles & Co. L P now owns 13,961,384 shares of the transportation company’s stock worth $788,679,000 after buying an additional 47,501 shares during the period. State Street Corp boosted its position in Expeditors International of Washington by 0.6% in the first quarter. State Street Corp now owns 10,805,641 shares of the transportation company’s stock worth $610,406,000 after buying an additional 69,252 shares during the period. Finally, FMR LLC boosted its position in Expeditors International of Washington by 43.0% in the first quarter. FMR LLC now owns 4,754,505 shares of the transportation company’s stock worth $268,582,000 after buying an additional 1,429,041 shares during the period. 94.09% of the stock is owned by hedge funds and other institutional investors.

Shares of Expeditors International of Washington, Inc. (EXPD) opened at 55.92 on Wednesday. Expeditors International of Washington, Inc. has a 12-month low of $47.23 and a 12-month high of $59.90. The firm has a market cap of $10.07 billion, a P/E ratio of 23.90 and a beta of 0.65. The stock’s 50 day moving average price is $57.27 and its 200-day moving average price is $55.53.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, August 8th. The transportation company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. Expeditors International of Washington had a return on equity of 23.01% and a net margin of 6.87%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, analysts predict that Expeditors International of Washington, Inc. will post $2.34 earnings per share for the current fiscal year.

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A number of equities analysts have commented on EXPD shares. Vertical Research reaffirmed a “hold” rating and set a $63.00 price objective on shares of Expeditors International of Washington in a research report on Thursday, April 13th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Expeditors International of Washington in a research report on Thursday, July 6th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Expeditors International of Washington in a research report on Tuesday, July 11th. BidaskClub cut shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised shares of Expeditors International of Washington from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $57.20.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a logistics company. The Company is a third-party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

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Institutional Ownership by Quarter for Expeditors International of Washington (NASDAQ:EXPD)

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