PNC Financial Services Group Inc. Sells 2,529 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

PNC Financial Services Group Inc. trimmed its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXPD. Optiver Holding B.V. acquired a new position in shares of Expeditors International of Washington in the fourth quarter valued at $27,000. CVA Family Office LLC bought a new position in shares of Expeditors International of Washington during the 4th quarter worth about $35,000. BKM Wealth Management LLC acquired a new stake in shares of Expeditors International of Washington during the 4th quarter valued at about $37,000. Planned Solutions Inc. bought a new stake in Expeditors International of Washington in the fourth quarter valued at about $37,000. Finally, Fortitude Family Office LLC acquired a new position in Expeditors International of Washington in the fourth quarter worth about $38,000. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Trading Up 0.3 %

Shares of NASDAQ EXPD opened at $123.74 on Tuesday. Expeditors International of Washington, Inc. has a 1-year low of $107.03 and a 1-year high of $131.17. The company has a 50-day moving average of $118.06 and a two-hundred day moving average of $121.54. The company has a market cap of $17.48 billion, a PE ratio of 26.22, a P/E/G ratio of 5.75 and a beta of 0.99.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, May 7th. The transportation company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.10 by $0.07. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Expeditors International of Washington had a return on equity of 28.89% and a net margin of 7.81%. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period last year, the firm earned $1.45 EPS. As a group, equities research analysts forecast that Expeditors International of Washington, Inc. will post 4.89 earnings per share for the current year.

Expeditors International of Washington Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.73 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from Expeditors International of Washington’s previous semi-annual dividend of $0.69. Expeditors International of Washington’s payout ratio is currently 30.93%.

Insider Transactions at Expeditors International of Washington

In related news, Director Mark A. Emmert sold 8,100 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $123.67, for a total value of $1,001,727.00. Following the completion of the sale, the director now owns 14,085 shares in the company, valued at $1,741,891.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Blake R. Bell sold 4,100 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.99, for a total transaction of $479,659.00. Following the sale, the insider now owns 52,745 shares of the company’s stock, valued at approximately $6,170,637.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Emmert sold 8,100 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $123.67, for a total value of $1,001,727.00. Following the completion of the transaction, the director now directly owns 14,085 shares of the company’s stock, valued at $1,741,891.95. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EXPD. JPMorgan Chase & Co. increased their target price 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. BNP Paribas raised Expeditors International of Washington from an “underperform” rating to a “neutral” rating and set a $112.00 price objective for the company in a report on Tuesday, May 14th. Stifel Nicolaus upped their target price on shares of Expeditors International of Washington from $112.00 to $114.00 and gave the stock a “hold” rating in a report on Thursday, May 23rd. Wolfe Research upgraded shares of Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th. Finally, TD Cowen boosted their price target on shares of Expeditors International of Washington from $111.00 to $112.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $111.88.

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.