Frank Rimerman Advisors LLC Grows Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Frank Rimerman Advisors LLC grew its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 66,700.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,344 shares of the transportation company’s stock after buying an additional 5,336 shares during the period. Frank Rimerman Advisors LLC’s holdings in Expeditors International of Washington were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. First Trust Advisors LP raised its holdings in Expeditors International of Washington by 580.8% in the 4th quarter. First Trust Advisors LP now owns 1,584,361 shares of the transportation company’s stock worth $201,531,000 after purchasing an additional 1,351,630 shares during the period. Norges Bank acquired a new position in shares of Expeditors International of Washington during the 4th quarter worth approximately $74,763,000. TD Asset Management Inc lifted its position in shares of Expeditors International of Washington by 51.9% during the 4th quarter. TD Asset Management Inc now owns 867,160 shares of the transportation company’s stock valued at $110,303,000 after buying an additional 296,186 shares in the last quarter. ProShare Advisors LLC grew its stake in Expeditors International of Washington by 16.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,582,963 shares of the transportation company’s stock valued at $197,538,000 after acquiring an additional 227,671 shares during the period. Finally, Confluence Investment Management LLC purchased a new stake in Expeditors International of Washington in the 1st quarter worth $23,178,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EXPD shares. Bank of America lifted their target price on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Robert W. Baird boosted their price objective on Expeditors International of Washington from $118.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Wolfe Research raised Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th. Benchmark reaffirmed a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Finally, UBS Group raised Expeditors International of Washington from a “sell” rating to a “neutral” rating and increased their price objective for the company from $95.00 to $137.00 in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $116.00.

Expeditors International of Washington Stock Performance

NASDAQ EXPD opened at $125.49 on Tuesday. Expeditors International of Washington, Inc. has a fifty-two week low of $107.03 and a fifty-two week high of $131.17. The firm has a market capitalization of $17.73 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 5.59 and a beta of 0.97. The stock’s fifty day moving average is $122.13 and its two-hundred day moving average is $120.52.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, August 6th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.02). Expeditors International of Washington had a return on equity of 29.15% and a net margin of 7.40%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. Expeditors International of Washington’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.01 EPS for the current year.

Expeditors International of Washington Profile

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.