Ontario Teachers Pension Plan Board raised its stake in Expeditors International of Washington (NASDAQ:EXPD) by 11.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 56,265 shares of the transportation company’s stock after purchasing an additional 5,657 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Expeditors International of Washington were worth $4,137,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Qube Research & Technologies Ltd bought a new position in shares of Expeditors International of Washington during the second quarter valued at approximately $113,000. Meeder Asset Management Inc. purchased a new stake in Expeditors International of Washington in the second quarter worth $116,000. Fort L.P. purchased a new stake in Expeditors International of Washington in the second quarter worth $118,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Expeditors International of Washington by 104.9% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,072 shares of the transportation company’s stock worth $152,000 after purchasing an additional 1,061 shares during the period. Finally, Parallel Advisors LLC grew its stake in Expeditors International of Washington by 70.7% in the second quarter. Parallel Advisors LLC now owns 2,332 shares of the transportation company’s stock worth $170,000 after purchasing an additional 966 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.
In other Expeditors International of Washington news, VP Christopher J. Mcclincy sold 2,371 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $73.67, for a total value of $174,671.57. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark A. Emmert sold 5,000 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $73.52, for a total value of $367,600.00. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by corporate insiders.
Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, November 6th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.78 by $0.14. Expeditors International of Washington had a return on equity of 28.98% and a net margin of 7.76%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $0.66 earnings per share. Expeditors International of Washington’s revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Expeditors International of Washington will post 3.24 EPS for the current fiscal year.
The company also recently announced a semiannual dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a $0.45 dividend. This is an increase from Expeditors International of Washington’s previous semiannual dividend of $0.42. The ex-dividend date is Friday, November 30th. This represents a yield of 1.23%. Expeditors International of Washington’s dividend payout ratio is currently 36.29%.
Several brokerages recently weighed in on EXPD. Stifel Nicolaus set a $73.00 price target on Expeditors International of Washington and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Credit Suisse Group reduced their price target on Expeditors International of Washington from $67.00 to $65.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 8th. Zacks Investment Research raised Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Tuesday, November 13th. Cowen reaffirmed a “market perform” rating and issued a $73.00 price target (up from $70.00) on shares of Expeditors International of Washington in a research note on Tuesday, August 7th. Finally, Deutsche Bank began coverage on Expeditors International of Washington in a research note on Tuesday, September 4th. They issued a “hold” rating and a $71.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.56.
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Expeditors International of Washington Profile
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, such as 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, cargo insurance, cargo monitoring and tracking, and other logistics solutions.
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