PNC Financial Services Group Inc. Cuts Stock Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

PNC Financial Services Group Inc. lowered its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 3.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 62,460 shares of the transportation company’s stock after selling 2,269 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Expeditors International of Washington were worth $8,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EXPD. Boston Partners grew its stake in shares of Expeditors International of Washington by 2.4% in the 1st 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 in the last quarter. First Eagle Investment Management LLC boosted its holdings in Expeditors International of Washington by 3.0% during the second 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 during the last quarter. Marshfield Associates grew its position 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 in the last quarter. ProShare Advisors LLC increased its stake in Expeditors International of Washington by 16.8% in 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Expeditors International of Washington by 7.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,278,815 shares of the transportation company’s stock worth $159,595,000 after buying an additional 85,393 shares in the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EXPD. UBS Group raised Expeditors International of Washington from a “sell” rating to a “neutral” rating and increased their price target for the company from $95.00 to $137.00 in a research report on Thursday, August 1st. TD Cowen lifted their target price on Expeditors International of Washington from $106.00 to $108.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Benchmark reissued a “hold” rating on shares of Expeditors International of Washington in a report on Wednesday, August 7th. Barclays raised their price objective on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Finally, Wolfe Research cut shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $118.44.

Expeditors International of Washington Stock Up 0.5 %

EXPD opened at $121.32 on Friday. The company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 3.39 and a beta of 0.98. The firm has a 50-day moving average price of $121.86 and a 200-day moving average price of $121.75. Expeditors International of Washington, Inc. has a twelve month low of $111.20 and a twelve month high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, November 5th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the firm posted $1.16 EPS. The business’s revenue for the quarter was up 37.0% compared to the same quarter last year. On average, sell-side analysts expect that Expeditors International of Washington, Inc. will post 5.37 earnings per share for the current fiscal year.

Expeditors International of Washington Dividend Announcement

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

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.