State of Tennessee Treasury Department Reduces Position in Exponent, Inc. (EXPO)
State of Tennessee Treasury Department reduced its holdings in Exponent, Inc. (NASDAQ:EXPO) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,690 shares of the business services provider’s stock after selling 1,434 shares during the quarter. State of Tennessee Treasury Department owned 0.09% of Exponent worth $1,677,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Exponent by 3.9% during the second quarter. Vanguard Group Inc. now owns 2,261,432 shares of the business services provider’s stock valued at $131,841,000 after acquiring an additional 85,291 shares during the period. Conestoga Capital Advisors LLC grew its position in Exponent by 17.5% during the third quarter. Conestoga Capital Advisors LLC now owns 854,790 shares of the business services provider’s stock valued at $63,169,000 after purchasing an additional 127,613 shares in the last quarter. State Street Corp grew its position in Exponent by 4.5% during the second quarter. State Street Corp now owns 642,196 shares of the business services provider’s stock valued at $37,436,000 after purchasing an additional 27,930 shares in the last quarter. Renaissance Technologies LLC grew its position in Exponent by 43.8% during the second quarter. Renaissance Technologies LLC now owns 530,700 shares of the business services provider’s stock valued at $30,940,000 after purchasing an additional 161,600 shares in the last quarter. Finally, Northern Trust Corp grew its position in Exponent by 2.0% during the second quarter. Northern Trust Corp now owns 478,610 shares of the business services provider’s stock valued at $27,903,000 after purchasing an additional 9,593 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.
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A number of brokerages recently commented on EXPO. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $77.00 price objective on shares of Exponent in a research report on Thursday, October 19th. Cantor Fitzgerald boosted their price objective on shares of Exponent to $82.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of Exponent from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.00.
Shares of Exponent, Inc. (NASDAQ:EXPO) opened at $74.25 on Tuesday. The company has a market cap of $1,897.09, a P/E ratio of 40.16 and a beta of 0.58. Exponent, Inc. has a 1 year low of $55.75 and a 1 year high of $77.15.
Exponent (NASDAQ:EXPO) last posted its earnings results on Wednesday, October 18th. The business services provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The company had revenue of $87.60 million during the quarter, compared to the consensus estimate of $79.69 million. Exponent had a net margin of 16.46% and a return on equity of 17.21%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. equities analysts anticipate that Exponent, Inc. will post 2.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 30th. Exponent’s dividend payout ratio is 40.98%.
In other news, CEO Paul R. Johnston sold 3,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $74.01, for a total value of $222,030.00. Following the completion of the sale, the chief executive officer now directly owns 32,342 shares in the company, valued at $2,393,631.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul R. Johnston sold 5,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $64.52, for a total transaction of $322,600.00. Following the completion of the sale, the chief executive officer now owns 66,335 shares of the company’s stock, valued at $4,279,934.20. The disclosure for this sale can be found here. Insiders sold 33,993 shares of company stock valued at $2,355,575 over the last three months. Insiders own 2.80% of the company’s stock.
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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