521,131 Exponent, Inc. $EXPO Shares Sold by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors cut its Exponent stake by 41.2%, selling 521,131 shares in the third quarter; it retained 744,573 shares valued at about $48.7 million.
• Exponent beat quarterly earnings and revenue estimates, reporting EPS of $0.64 and revenue of $173.73 million; revenue grew 11.7% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $91. The company also declared a quarterly dividend of $0.31 per share.

Conestoga Capital Advisors LLC decreased its stake in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 41.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 744,573 shares of the business services provider's stock after selling 521,131 shares during the quarter. Exponent makes up about 1.5% of Conestoga Capital Advisors LLC's holdings, making the stock its 26th biggest position. Conestoga Capital Advisors LLC owned approximately 1.57% of Exponent worth $48,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Exponent during the 2nd quarter valued at $363,428,000. First Trust Advisors LP increased its stake in shares of Exponent by 7.4% in the first quarter. First Trust Advisors LP now owns 964,814 shares of the business services provider's stock worth $62,954,000 after acquiring an additional 66,471 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Exponent by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 918,885 shares of the business services provider's stock worth $59,958,000 after acquiring an additional 20,270 shares in the last quarter. Resona Asset Management Co. Ltd. raised its holdings in shares of Exponent by 3.5% during the first quarter. Resona Asset Management Co. Ltd. now owns 691,256 shares of the business services provider's stock worth $45,102,000 after acquiring an additional 23,154 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Exponent by 0.5% during the first quarter. Bank of America Corp DE now owns 539,793 shares of the business services provider's stock worth $35,221,000 after acquiring an additional 2,707 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company's stock.

Exponent Stock Performance

NASDAQ:EXPO opened at $87.43 on Thursday. The firm's 50-day moving average is $71.17 and its 200-day moving average is $66.84. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 37.69 and a beta of 0.66. Exponent, Inc. has a 52-week low of $51.91 and a 52-week high of $88.17.

Exponent (NASDAQ:EXPO - Get Free Report) last issued its earnings results on Thursday, October 29th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Exponent had a return on equity of 34.61% and a net margin of 17.40%. The business had revenue of $173.73 million during the quarter, compared to analysts' expectations of $149.64 million. During the same period in the prior year, the firm posted $0.55 EPS. Exponent's quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Exponent, Inc. will post 2.36 EPS for the current year.

Exponent Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. Exponent's dividend payout ratio is 53.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EXPO shares. Zacks Research upgraded Exponent from a "hold" rating to a "strong-buy" rating in a research note on Monday. UBS Group raised their price target on Exponent from $72.00 to $82.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th. JPMorgan Chase & Co. boosted their price target on Exponent from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Finally, Weiss Ratings raised shares of Exponent from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Insider Activity

In other news, VP Richard Reiss sold 1,280 shares of the stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $86.44, for a total transaction of $110,643.20. Following the completion of the sale, the vice president owned 1,008 shares of the company's stock, valued at $87,131.52. This represents a 55.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief executive officer owned 129,108 shares in the company, valued at approximately $8,557,278.24. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company's stock.

About Exponent

Exponent, Inc is a science and engineering consulting company that helps clients investigate complex technical issues, manage risks, and develop solutions. Its consultants work across disciplines including engineering, materials science, biomechanics, human factors, environmental science, health, data sciences, and economics.

The company provides failure analysis, product safety and testing, accident reconstruction, environmental and health assessments, regulatory support, and expert testimony.

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