Principal Financial Group Inc. Sells 40,370 Shares of Exponent, Inc. (NASDAQ:EXPO)

Principal Financial Group Inc. lessened its position in shares of Exponent, Inc. (NASDAQ:EXPO) by 23.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 131,421 shares of the business services provider’s stock after selling 40,370 shares during the quarter. Principal Financial Group Inc.’s holdings in Exponent were worth $15,150,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Exponent in the 2nd quarter worth approximately $25,000. GAMMA Investing LLC boosted its holdings in Exponent by 67.7% during the 2nd quarter. GAMMA Investing LLC now owns 379 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 153 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in Exponent by 166.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 517 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 323 shares in the last quarter. USA Financial Formulas bought a new stake in Exponent during the 3rd quarter valued at $60,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Exponent by 70.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the business services provider’s stock valued at $83,000 after purchasing an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial restated a “buy” rating and set a $120.00 target price (up from $100.00) on shares of Exponent in a research note on Friday, July 26th.

Insider Buying and Selling at Exponent

In other news, Director Paul R. Johnston sold 14,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $104.60, for a total value of $1,464,400.00. Following the sale, the director now owns 80,742 shares in the company, valued at $8,445,613.20. This represents a 14.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carol Lindstrom sold 1,039 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $96.32, for a total value of $100,076.48. Following the completion of the transaction, the director now directly owns 5,871 shares of the company’s stock, valued at $565,494.72. The trade was a 15.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,039 shares of company stock worth $2,291,286. 2.10% of the stock is currently owned by insiders.

Exponent Stock Performance

Exponent stock opened at $97.40 on Friday. The business’s 50-day simple moving average is $107.23 and its two-hundred day simple moving average is $101.97. The company has a market cap of $4.94 billion, a PE ratio of 47.05 and a beta of 0.69. Exponent, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $115.75.

Exponent Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 1.15%. Exponent’s payout ratio is presently 54.11%.

Exponent 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.