Lumature Wealth Partners LLC Cuts Stock Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Jun 13th, 2023

Lumature Wealth Partners LLC lessened its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,840 shares of the transportation company’s stock after selling 221 shares during the quarter. Lumature Wealth Partners LLC’s holdings in Expeditors International of Washington were worth $295,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Cetera Advisor Networks LLC raised its stake in shares of Expeditors International of Washington by 50.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 7,857 shares of the transportation company’s stock worth $816,000 after purchasing an additional 2,639 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Expeditors International of Washington by 26.2% during the fourth quarter. Cetera Investment Advisers now owns 5,442 shares of the transportation company’s stock worth $565,000 after purchasing an additional 1,131 shares during the last quarter. New Vernon Capital Holdings II LLC raised its stake in shares of Expeditors International of Washington by 20.7% during the fourth quarter. New Vernon Capital Holdings II LLC now owns 2,154 shares of the transportation company’s stock worth $224,000 after purchasing an additional 369 shares during the last quarter. Engineers Gate Manager LP raised its stake in shares of Expeditors International of Washington by 196.8% during the fourth quarter. Engineers Gate Manager LP now owns 8,037 shares of the transportation company’s stock worth $835,000 after purchasing an additional 5,329 shares during the last quarter. Finally, Qtron Investments LLC raised its stake in shares of Expeditors International of Washington by 51.1% during the fourth quarter. Qtron Investments LLC now owns 5,804 shares of the transportation company’s stock worth $603,000 after purchasing an additional 1,963 shares during the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Insider Activity at Expeditors International of Washington

In related news, CEO Jeffrey S. Musser sold 30,041 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $111.30, for a total transaction of $3,343,563.30. Following the sale, the chief executive officer now owns 116,587 shares of the company’s stock, valued at $12,976,133.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jeffrey S. Musser sold 30,041 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $111.30, for a total transaction of $3,343,563.30. Following the sale, the chief executive officer now owns 116,587 shares of the company’s stock, valued at $12,976,133.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Benjamin G. Clark sold 1,290 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $117.85, for a total value of $152,026.50. Following the transaction, the senior vice president now owns 16,351 shares in the company, valued at $1,926,965.35. The disclosure for this sale can be found here. Insiders have sold a total of 45,077 shares of company stock valued at $5,117,562 over the last quarter. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

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

Expeditors International of Washington Stock Performance

Expeditors International of Washington stock opened at $116.17 on Tuesday. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 15.21 and a beta of 0.99. Expeditors International of Washington, Inc. has a fifty-two week low of $86.08 and a fifty-two week high of $119.90. The stock’s fifty day moving average is $112.70 and its two-hundred day moving average is $110.21.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last posted its earnings results on Tuesday, May 2nd. The transportation company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.12. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $2.05 earnings per share. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.42 EPS for the current fiscal year.

Expeditors International of Washington Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a dividend yield of 1.1%. This is a positive change from Expeditors International of Washington’s previous Semi-Annual dividend of $0.67. Expeditors International of Washington’s dividend payout ratio (DPR) is presently 18.06%.

Expeditors International of Washington Company Profile

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Expeditors International of Washington, Inc, together with its subsidiaries, 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, including 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, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.