Confluence Investment Management LLC Sells 21,438 Shares of Expeditors International of Washington, Inc. $EXPD

Confluence Investment Management LLC lowered its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 14.5% during the 3rd quarter, Holdings Channel reports. The fund owned 126,831 shares of the transportation company’s stock after selling 21,438 shares during the period. Confluence Investment Management LLC’s holdings in Expeditors International of Washington were worth $23,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its stake in Expeditors International of Washington by 6.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,946 shares of the transportation company’s stock valued at $480,000 after buying an additional 179 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Expeditors International of Washington by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,107,979 shares of the transportation company’s stock worth $180,578,000 after acquiring an additional 3,909 shares during the period. Andra AP fonden boosted its holdings in shares of Expeditors International of Washington by 151.0% in the second quarter. Andra AP fonden now owns 95,421 shares of the transportation company’s stock valued at $15,552,000 after acquiring an additional 57,400 shares in the last quarter. State Street Corp boosted its holdings in shares of Expeditors International of Washington by 1.5% in the second quarter. State Street Corp now owns 7,335,241 shares of the transportation company’s stock valued at $1,195,498,000 after acquiring an additional 109,798 shares in the last quarter. Finally, SkyView Investment Advisors LLC acquired a new position in shares of Expeditors International of Washington during the second quarter valued at approximately $163,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Stock Performance

Shares of EXPD stock traded up $2.25 on Thursday, reaching $186.89. 339,600 shares of the company’s stock traded hands, compared to its average volume of 1,268,408. The company has a market capitalization of $24.29 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. Expeditors International of Washington, Inc. has a 12-month low of $112.94 and a 12-month high of $194.59. The business’s 50 day moving average price is $184.59 and its two-hundred day moving average price is $166.38.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same quarter last year, the firm posted $1.34 earnings per share. Expeditors International of Washington’s quarterly revenue was up 32.1% on a year-over-year basis. Research analysts predict that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EXPD shares. Bank of America lifted their price target on Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. TD Cowen raised their target price on Expeditors International of Washington from $148.00 to $176.00 and gave the company a “sell” rating in a research note on Wednesday, August 5th. Truist Financial lifted their target price on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upgraded shares of Expeditors International of Washington from an “underweight” rating to a “neutral” rating and set a $200.00 price target on the stock in a research report on Wednesday, August 5th. Finally, Barclays upped their price target on shares of Expeditors International of Washington from $160.00 to $165.00 and gave the company an “underweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Expeditors International of Washington presently has an average rating of “Hold” and an average price target of $173.09.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a global logistics company that helps businesses move and manage goods across international supply chains. Its services include air and ocean freight forwarding, customs brokerage, cargo consolidation, warehousing, distribution, order management and other transportation-related solutions.

Founded in 1979 and headquartered in Seattle, Washington, Expeditors serves manufacturers, retailers, distributors and other customers through a worldwide network of offices and logistics facilities.