US Bancorp DE Lowers Stake in Exponent, Inc. (EXPO)
US Bancorp DE lowered its stake in Exponent, Inc. (NASDAQ:EXPO) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,909 shares of the business services provider’s stock after selling 89 shares during the period. US Bancorp DE’s holdings in Exponent were worth $403,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of EXPO. Advisory Services Network LLC bought a new stake in shares of Exponent during the first quarter valued at about $123,000. Ameritas Investment Partners Inc. bought a new stake in shares of Exponent during the first quarter valued at about $132,000. Victory Capital Management Inc. increased its stake in shares of Exponent by 9.2% in the first quarter. Victory Capital Management Inc. now owns 2,683 shares of the business services provider’s stock valued at $160,000 after buying an additional 226 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Exponent by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,830 shares of the business services provider’s stock valued at $168,000 after buying an additional 20 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Exponent by 0.7% in the second quarter. Bank of Montreal Can now owns 3,231 shares of the business services provider’s stock valued at $189,000 after buying an additional 22 shares in the last quarter. 90.37% of the stock is owned by institutional investors.
Shares of Exponent, Inc. (NASDAQ:EXPO) traded down 1.01% during midday trading on Friday, hitting $63.85. 90,699 shares of the stock traded hands. The firm has a 50-day moving average price of $62.98 and a 200-day moving average price of $60.12. The stock has a market capitalization of $1.65 billion, a P/E ratio of 33.10 and a beta of 0.62. Exponent, Inc. has a 52 week low of $48.42 and a 52 week high of $68.30.
Exponent (NASDAQ:EXPO) last released its earnings results on Tuesday, July 18th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.10. Exponent had a net margin of 15.94% and a return on equity of 16.52%. The company had revenue of $84.10 million for the quarter, compared to the consensus estimate of $79.30 million. During the same quarter in the previous year, the company earned $0.38 EPS. Exponent’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts predict that Exponent, Inc. will post $1.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.32%. Exponent’s payout ratio is presently 43.52%.
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EXPO has been the subject of several research reports. Zacks Investment Research raised shares of Exponent from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Thursday, June 29th. Cantor Fitzgerald reissued a “buy” rating and set a $75.00 price objective (up previously from $69.00) on shares of Exponent in a research report on Wednesday, July 19th. ValuEngine raised shares of Exponent from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, BidaskClub raised shares of Exponent from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th.
In related news, insider Sally Shepard sold 1,255 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $65.37, for a total transaction of $82,039.35. Following the transaction, the insider now owns 1,560 shares in the company, valued at approximately $101,977.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Harri Kytomaa sold 12,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $66.38, for a total transaction of $796,560.00. Following the transaction, the insider now owns 11,360 shares in the company, valued at approximately $754,076.80. The disclosure for this sale can be found here. Insiders have sold a total of 41,855 shares of company stock worth $2,747,452 in the last quarter. 2.80% of the stock is owned by corporate insiders.
Exponent, Inc (Exponent), along with its subsidiaries, is a science and engineering consulting company. Exponent provides engineering and scientific consulting services to clients around the world. Its service offerings are provided on a project-by-project basis. It operates in two segments: Engineering and Other Scientific, and Environmental and Health.
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