Bank of Nova Scotia Sells 6,549 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on May 23rd, 2023

Bank of Nova Scotia lessened its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 33.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,299 shares of the transportation company’s stock after selling 6,549 shares during the quarter. Bank of Nova Scotia’s holdings in Expeditors International of Washington were worth $1,382,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in EXPD. Neo Ivy Capital Management lifted its holdings in Expeditors International of Washington by 7.0% during the 3rd quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock worth $119,000 after buying an additional 88 shares during the last quarter. Mission Wealth Management LP boosted its stake in shares of Expeditors International of Washington by 0.7% during the fourth quarter. Mission Wealth Management LP now owns 12,433 shares of the transportation company’s stock worth $1,292,000 after buying an additional 92 shares during the period. BlackDiamond Wealth Management Inc. boosted its stake in shares of Expeditors International of Washington by 4.2% during the fourth quarter. BlackDiamond Wealth Management Inc. now owns 2,594 shares of the transportation company’s stock worth $282,000 after buying an additional 104 shares during the period. J. W. Coons Advisors LLC raised its stake in shares of Expeditors International of Washington by 2.3% during the fourth quarter. J. W. Coons Advisors LLC now owns 5,119 shares of the transportation company’s stock worth $532,000 after purchasing an additional 115 shares during the last quarter. Finally, Monument Capital Management raised its stake in shares of Expeditors International of Washington by 0.6% during the fourth quarter. Monument Capital Management now owns 18,549 shares of the transportation company’s stock worth $1,928,000 after purchasing an additional 117 shares during the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Expeditors International of Washington

In other Expeditors International of Washington news, CFO Bradley S. Powell sold 12,138 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $118.01, for a total value of $1,432,405.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Expeditors International of Washington news, CFO Bradley S. Powell sold 12,138 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $118.01, for a total transaction of $1,432,405.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jeffrey F. Dickerman sold 1,608 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $117.89, for a total transaction of $189,567.12. Following the transaction, the vice president now directly owns 5,484 shares of the company’s stock, valued at approximately $646,508.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,036 shares of company stock worth $2,871,599. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

EXPD has been the subject of several analyst reports. Wells Fargo & Company upped their price target on Expeditors International of Washington from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 22nd. Morgan Stanley dropped their price target on shares of Expeditors International of Washington from $87.00 to $86.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 4th. Barclays boosted their price target on shares of Expeditors International of Washington from $90.00 to $95.00 in a research note on Wednesday, May 3rd. Finally, StockNews.com initiated coverage on Expeditors International of Washington in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $101.00.

Expeditors International of Washington Price Performance

Shares of EXPD opened at $114.43 on Tuesday. Expeditors International of Washington, Inc. has a 1-year low of $86.08 and a 1-year high of $119.90. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 14.98 and a beta of 1.00. The firm has a 50 day simple moving average of $110.20 and a 200-day simple moving average of $109.66.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The transportation company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.12. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.91 billion. Expeditors International of Washington had a return on equity of 37.24% and a net margin of 8.25%. Expeditors International of Washington’s revenue was down 44.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share. On average, equities analysts expect that Expeditors International of Washington, Inc. will post 5.42 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 Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.69 dividend. This represents a yield of 1.1%. This is a positive change from Expeditors International of Washington’s previous Semi-Annual dividend of $0.67. The ex-dividend date is Wednesday, May 31st. Expeditors International of Washington’s dividend payout ratio is 17.54%.

About Expeditors International of Washington

(Get Rating)

Expeditors International of Washington, Inc engages in the provision of global logistics services. The firm offers air freight, ocean freight and ocean and customs brokerage and other services. It also provides customer solutions such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.