Lord Abbett & CO. LLC Has $19.70 Million Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Lord Abbett & CO. LLC lessened its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 71.7% during the second quarter, HoldingsChannel.com reports. The firm owned 155,590 shares of the transportation company’s stock after selling 394,104 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Expeditors International of Washington were worth $19,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BDO Wealth Advisors LLC boosted its stake in shares of Expeditors International of Washington by 996.2% in the first quarter. BDO Wealth Advisors LLC now owns 285 shares of the transportation company’s stock valued at $31,000 after buying an additional 259 shares during the period. E Fund Management Co. Ltd. bought a new stake in shares of Expeditors International of Washington during the 1st quarter valued at $32,000. Sargent Bickham Lagudis LLC grew its holdings in shares of Expeditors International of Washington by 150.0% during the 1st quarter. Sargent Bickham Lagudis LLC now owns 375 shares of the transportation company’s stock worth $40,000 after purchasing an additional 225 shares in the last quarter. Berman Capital Advisors LLC increased its position in shares of Expeditors International of Washington by 25.9% in the first quarter. Berman Capital Advisors LLC now owns 438 shares of the transportation company’s stock worth $47,000 after purchasing an additional 90 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in Expeditors International of Washington by 193.5% in the second quarter. Cullen Frost Bankers Inc. now owns 455 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 300 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors.

In other Expeditors International of Washington news, VP Christopher J. Mcclincy sold 8,200 shares of the stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $126.03, for a total transaction of $1,033,446.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeffrey F. Dickerman sold 340 shares of the company’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $126.11, for a total transaction of $42,877.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,816 shares of company stock valued at $1,111,389. 0.69% of the stock is owned by corporate insiders.

Shares of NASDAQ EXPD opened at $121.30 on Wednesday. The company has a 50 day simple moving average of $125.09 and a 200 day simple moving average of $119.18. Expeditors International of Washington, Inc. has a 1 year low of $85.01 and a 1 year high of $130.76. The firm has a market cap of $20.61 billion, a PE ratio of 20.95 and a beta of 0.79.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, August 3rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.21. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.49 billion. Expeditors International of Washington had a net margin of 7.88% and a return on equity of 35.71%. During the same quarter last year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 49.7% on a year-over-year basis. Analysts predict that Expeditors International of Washington, Inc. will post 6.59 EPS for the current year.

Several research firms have commented on EXPD. Vertical Research lowered shares of Expeditors International of Washington from a “buy” rating to a “hold” rating and set a $135.00 target price on the stock. in a report on Monday, July 26th. Morgan Stanley boosted their price objective on shares of Expeditors International of Washington from $91.00 to $98.00 and gave the company an “equal weight” rating in a research report on Thursday, July 8th. Zacks Investment Research downgraded Expeditors International of Washington from a “buy” rating to a “hold” rating and set a $131.00 target price on the stock. in a report on Monday, August 9th. Barclays boosted their price target on Expeditors International of Washington from $96.00 to $100.00 and gave the stock an “underweight” rating in a report on Monday, August 30th. Finally, Wells Fargo & Company boosted their target price on Expeditors International of Washington from $123.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 13th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $113.00.

Expeditors International of Washington Profile

Expeditors International of Washington, Inc engages in the provision of global logistics services. The firm offers airfreight, ocean freight and ocean and customs brokerage and other services. It also provides customer solutions such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

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Institutional Ownership by Quarter for Expeditors International of Washington (NASDAQ:EXPD)

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