US Bancorp DE Sells 2,301 Shares of Exponent, Inc. $EXPO

US Bancorp DE lowered its position in Exponent, Inc. (NASDAQ:EXPO) by 23.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,597 shares of the business services provider’s stock after selling 2,301 shares during the period. US Bancorp DE’s holdings in Exponent were worth $568,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Exponent by 1.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,791,747 shares of the business services provider’s stock valued at $388,419,000 after buying an additional 55,190 shares in the last quarter. Geneva Capital Management LLC boosted its stake in Exponent by 11.2% in the 1st quarter. Geneva Capital Management LLC now owns 1,745,828 shares of the business services provider’s stock worth $141,517,000 after purchasing an additional 176,152 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in Exponent by 17.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 506,784 shares of the business services provider’s stock worth $41,250,000 after purchasing an additional 74,605 shares during the period. Envestnet Asset Management Inc. boosted its stake in Exponent by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 441,646 shares of the business services provider’s stock worth $35,800,000 after purchasing an additional 8,501 shares during the period. Finally, Millennium Management LLC boosted its stake in Exponent by 543.1% in the 1st quarter. Millennium Management LLC now owns 305,230 shares of the business services provider’s stock worth $24,742,000 after purchasing an additional 257,766 shares during the period. Institutional investors own 92.37% of the company’s stock.

Insider Transactions at Exponent

In other news, CEO Catherine Corrigan sold 4,930 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $66.82, for a total transaction of $329,422.60. Following the completion of the transaction, the chief executive officer directly owned 82,753 shares in the company, valued at $5,529,555.46. This represents a 5.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph Sala sold 1,595 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $70.64, for a total transaction of $112,670.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,326 shares of company stock valued at $1,133,059. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Exponent in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Exponent Price Performance

Exponent stock opened at $67.50 on Monday. The firm has a 50-day moving average of $69.57 and a 200-day moving average of $73.72. Exponent, Inc. has a one year low of $63.81 and a one year high of $113.36. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 33.75 and a beta of 0.91.

Exponent (NASDAQ:EXPO) last posted its quarterly earnings data on Thursday, July 31st. The business services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Exponent had a net margin of 18.35% and a return on equity of 24.19%. The company had revenue of $132.87 million during the quarter, compared to the consensus estimate of $130.82 million. During the same period in the prior year, the business posted $0.57 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that Exponent, Inc. will post 1.98 earnings per share for the current year.

Exponent Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. Exponent’s dividend payout ratio is currently 60.00%.

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.