11,070 Exponent, Inc. $EXPO Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its holdings in shares of Exponent, Inc. (NASDAQ:EXPO) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,864 shares of the business services provider’s stock after selling 11,070 shares during the period. Riverbridge Partners LLC owned about 0.73% of Exponent worth $22,823,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hohimer Wealth Management LLC purchased a new stake in shares of Exponent in the third quarter worth approximately $221,000. Summit Creek Advisors LLC purchased a new position in Exponent during the 3rd quarter valued at $2,520,000. Chicago Partners Investment Group LLC purchased a new position in Exponent during the 3rd quarter valued at $226,000. Covestor Ltd boosted its holdings in Exponent by 10.3% during the 3rd quarter. Covestor Ltd now owns 2,050 shares of the business services provider’s stock valued at $134,000 after acquiring an additional 192 shares during the period. Finally, Bridge City Capital LLC grew its position in Exponent by 21.6% in the 3rd quarter. Bridge City Capital LLC now owns 49,231 shares of the business services provider’s stock valued at $3,221,000 after acquiring an additional 8,729 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Exponent Stock Performance

Shares of NASDAQ:EXPO opened at $86.00 on Wednesday. The firm’s 50 day simple moving average is $72.31 and its 200-day simple moving average is $67.05. Exponent, Inc. has a one year low of $51.91 and a one year high of $90.51. The firm has a market cap of $4.09 billion, a PE ratio of 37.07 and a beta of 0.66.

Exponent (NASDAQ:EXPO) last announced its quarterly earnings results on Thursday, October 29th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The firm had revenue of $173.73 million during the quarter, compared to analyst estimates of $149.64 million. Exponent had a return on equity of 34.61% and a net margin of 17.40%. Exponent’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. Equities research analysts predict that Exponent, Inc. will post 2.36 EPS for the current fiscal year.

Exponent Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, December 4th. Exponent’s dividend payout ratio is currently 53.45%.

Insider Buying and Selling at Exponent

In other news, CEO Catherine Corrigan sold 1,707 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $66.28, for a total transaction of $113,139.96. Following the transaction, the chief executive officer owned 129,108 shares in the company, valued at approximately $8,557,278.24. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Reiss sold 1,280 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $86.44, for a total value of $110,643.20. Following the transaction, the vice president owned 1,008 shares in the company, valued at approximately $87,131.52. This represents a 55.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group increased their target price on Exponent from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Weiss Ratings upgraded Exponent from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Exponent from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Finally, Zacks Research raised shares of Exponent from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Exponent currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Exponent Profile

Exponent, Inc. is a multidisciplinary engineering and scientific consulting firm that helps clients investigate complex technical issues and manage risk. Its consultants analyze incidents such as product failures and accidents, assess potential hazards, and provide expert advice on engineering, scientific, and regulatory matters. The company’s services span fields including engineering, materials science, environmental science, health, and data analytics. Clients use Exponent’s expertise for product development and testing, litigation support, regulatory compliance, and risk assessment across a range of industries.