Meritage Portfolio Management Sells 408 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Meritage Portfolio Management trimmed its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,012 shares of the transportation company’s stock after selling 408 shares during the quarter. Meritage Portfolio Management’s holdings in Expeditors International of Washington were worth $7,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in shares of Expeditors International of Washington by 2.4% in the first quarter. Boston Partners now owns 2,936,736 shares of the transportation company’s stock worth $356,923,000 after acquiring an additional 67,800 shares during the period. First Eagle Investment Management LLC lifted its holdings in Expeditors International of Washington by 3.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,134 shares of the transportation company’s stock worth $346,559,000 after purchasing an additional 82,107 shares in the last quarter. Marshfield Associates boosted its stake in Expeditors International of Washington by 0.3% in the 2nd quarter. Marshfield Associates now owns 1,811,149 shares of the transportation company’s stock worth $226,013,000 after purchasing an additional 5,712 shares during the period. ProShare Advisors LLC grew its holdings in Expeditors International of Washington by 16.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,582,963 shares of the transportation company’s stock valued at $197,538,000 after buying an additional 227,671 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Expeditors International of Washington by 7.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,278,815 shares of the transportation company’s stock valued at $159,595,000 after buying an additional 85,393 shares during the last quarter. Institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Price Performance

Shares of Expeditors International of Washington stock traded up $0.07 on Friday, reaching $120.06. The company had a trading volume of 1,230,076 shares, compared to its average volume of 1,198,336. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 3.56 and a beta of 0.98. The firm’s 50-day moving average price is $122.39 and its two-hundred day moving average price is $121.37. Expeditors International of Washington, Inc. has a 1 year low of $111.20 and a 1 year high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings data on Tuesday, November 5th. The transportation company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.33 by $0.30. Expeditors International of Washington had a net margin of 7.39% and a return on equity of 32.12%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Expeditors International of Washington’s quarterly revenue was up 37.0% compared to the same quarter last year. As a group, analysts anticipate that Expeditors International of Washington, Inc. will post 5.16 EPS for the current year.

Expeditors International of Washington Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This represents a yield of 1.2%. Expeditors International of Washington’s payout ratio is 28.46%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EXPD shares. Barclays upped their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday. Benchmark restated a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, August 7th. UBS Group upgraded Expeditors International of Washington from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $95.00 to $137.00 in a research report on Thursday, August 1st. TD Cowen raised their price target on Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Wolfe Research cut Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.00.

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.