PNC Financial Services Group Inc. Decreases Stock Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

PNC Financial Services Group Inc. cut its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,158 shares of the transportation company’s stock after selling 2,529 shares during the period. PNC Financial Services Group Inc.’s holdings in Expeditors International of Washington were worth $8,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MainStreet Investment Advisors LLC raised its stake in Expeditors International of Washington by 4.5% in the 4th quarter. MainStreet Investment Advisors LLC now owns 6,683 shares of the transportation company’s stock valued at $850,000 after purchasing an additional 286 shares during the last quarter. Norges Bank acquired a new position in shares of Expeditors International of Washington during the 4th quarter valued at about $74,763,000. ING Groep NV increased its stake in shares of Expeditors International of Washington by 7.2% during the 4th quarter. ING Groep NV now owns 19,904 shares of the transportation company’s stock valued at $2,531,000 after acquiring an additional 1,337 shares during the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Expeditors International of Washington by 54.0% during the 4th quarter. Mizuho Markets Americas LLC now owns 40,319 shares of the transportation company’s stock worth $5,129,000 after purchasing an additional 14,130 shares during the period. Finally, NDVR Inc. purchased a new stake in shares of Expeditors International of Washington during the 4th quarter worth about $214,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Expeditors International of Washington

In related news, insider Blake R. Bell sold 4,100 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.99, for a total value of $479,659.00. Following the completion of the transaction, the insider now owns 52,745 shares in the company, valued at approximately $6,170,637.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Jeffrey F. Dickerman sold 2,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $122.63, for a total value of $245,260.00. Following the completion of the sale, the vice president now directly owns 5,728 shares of the company’s stock, valued at approximately $702,424.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Blake R. Bell sold 4,100 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.99, for a total value of $479,659.00. Following the completion of the sale, the insider now directly owns 52,745 shares of the company’s stock, valued at $6,170,637.55. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Expeditors International of Washington Price Performance

Shares of NASDAQ EXPD opened at $116.60 on Friday. The business’s fifty day moving average price is $117.07 and its two-hundred day moving average price is $120.83. Expeditors International of Washington, Inc. has a 1-year low of $107.03 and a 1-year high of $131.17. The firm has a market capitalization of $16.47 billion, a PE ratio of 24.83, a P/E/G ratio of 6.43 and a beta of 1.00.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, May 7th. The transportation company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. Expeditors International of Washington had a return on equity of 28.89% and a net margin of 7.81%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the business posted $1.45 earnings per share. The company’s quarterly revenue was down 14.9% on a year-over-year basis. Equities research analysts expect that Expeditors International of Washington, Inc. will post 4.82 earnings per share for the current fiscal year.

Expeditors International of Washington Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.73 per share. The ex-dividend date is Monday, June 3rd. This represents a yield of 1.2%. This is a boost from Expeditors International of Washington’s previous semi-annual dividend of $0.69. Expeditors International of Washington’s dividend payout ratio (DPR) is currently 29.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EXPD shares. BNP Paribas upgraded Expeditors International of Washington from an “underperform” rating to a “neutral” rating and set a $112.00 target price for the company in a report on Tuesday, May 14th. TD Cowen boosted their target price on Expeditors International of Washington from $111.00 to $112.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Susquehanna boosted their target price on Expeditors International of Washington from $112.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Stifel Nicolaus boosted their target price on Expeditors International of Washington from $112.00 to $114.00 and gave the stock a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Expeditors International of Washington from $106.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, Expeditors International of Washington has an average rating of “Hold” and a consensus price target of $111.25.

About Expeditors International of Washington

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. 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, import, 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.