Millennium Management LLC Has $4.87 Million Position in Exponent, Inc. (NASDAQ:EXPO)

Millennium Management LLC cut its stake in Exponent, Inc. (NASDAQ:EXPO) by 29.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,143 shares of the business services provider’s stock after selling 21,269 shares during the period. Millennium Management LLC owned approximately 0.10% of Exponent worth $4,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXPO. Congress Asset Management Co. MA lifted its stake in shares of Exponent by 30.3% in the 4th quarter. Congress Asset Management Co. MA now owns 52,157 shares of the business services provider’s stock valued at $4,592,000 after purchasing an additional 12,138 shares during the period. Vanguard Group Inc. grew its holdings in Exponent by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 4,995,605 shares of the business services provider’s stock valued at $439,813,000 after purchasing an additional 19,795 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Exponent by 30.7% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 48,998 shares of the business services provider’s stock valued at $4,314,000 after purchasing an additional 11,498 shares during the period. Quadrature Capital Ltd grew its holdings in Exponent by 56.9% during the fourth quarter. Quadrature Capital Ltd now owns 3,847 shares of the business services provider’s stock valued at $339,000 after purchasing an additional 1,395 shares during the period. Finally, HighPoint Advisor Group LLC bought a new position in Exponent during the fourth quarter valued at $262,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Exponent Price Performance

NASDAQ EXPO opened at $112.78 on Friday. The stock has a market capitalization of $5.72 billion, a PE ratio of 56.96 and a beta of 0.66. Exponent, Inc. has a 1 year low of $64.61 and a 1 year high of $115.61. The business’s 50-day moving average is $107.76 and its 200 day moving average is $98.15.

Exponent (NASDAQ:EXPO) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. Exponent had a net margin of 19.35% and a return on equity of 28.39%. The business had revenue of $132.43 million during the quarter, compared to analyst estimates of $130.83 million. During the same period last year, the business posted $0.50 earnings per share. Exponent’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Exponent, Inc. will post 2.04 earnings per share for the current year.

Exponent Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. Exponent’s payout ratio is currently 56.57%.

Analyst Ratings Changes

Separately, Truist Financial reiterated a “buy” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Exponent in a research report on Friday, July 26th.

Insider Buying and Selling

In other Exponent news, VP John Pye sold 3,956 shares of Exponent stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $105.00, for a total value of $415,380.00. Following the completion of the sale, the vice president now owns 28,422 shares of the company’s stock, valued at approximately $2,984,310. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by company insiders.

Exponent Company Profile

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.