Conestoga Capital Advisors LLC Decreases Stock Position in Exponent, Inc. $EXPO

Key Points

• Conestoga Capital Advisors reduced its Exponent stake by 20.3% in the first quarter, selling 485,994 shares and leaving it with 1.91 million shares worth about $124.4 million.
• Exponent’s latest quarterly results topped expectations, with earnings of $0.59 per share versus the $0.56 estimate and revenue of $166.3 million, up 14.3% year over year.
• The company also paid a quarterly dividend of $0.31 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $77.50.

Conestoga Capital Advisors LLC cut its position in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 20.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,906,505 shares of the business services provider's stock after selling 485,994 shares during the period. Exponent accounts for 2.5% of Conestoga Capital Advisors LLC's holdings, making the stock its 17th largest position. Conestoga Capital Advisors LLC owned about 3.92% of Exponent worth $124,399,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Exponent by 87,479.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 230,335 shares of the business services provider's stock worth $15,999,000 after buying an additional 230,072 shares in the last quarter. Riverbridge Partners LLC lifted its stake in shares of Exponent by 14.7% in the fourth quarter. Riverbridge Partners LLC now owns 554,193 shares of the business services provider's stock worth $38,494,000 after buying an additional 71,178 shares in the last quarter. UBS Group AG lifted its stake in shares of Exponent by 29.7% in the fourth quarter. UBS Group AG now owns 176,404 shares of the business services provider's stock worth $12,253,000 after buying an additional 40,359 shares in the last quarter. First Trust Advisors LP boosted its position in Exponent by 135.8% during the third quarter. First Trust Advisors LP now owns 580,134 shares of the business services provider's stock worth $40,308,000 after acquiring an additional 334,154 shares during the last quarter. Finally, Vest Financial LLC grew its stake in Exponent by 69.4% during the 4th quarter. Vest Financial LLC now owns 62,350 shares of the business services provider's stock valued at $4,331,000 after acquiring an additional 25,537 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Exponent Price Performance

NASDAQ:EXPO opened at $59.94 on Thursday. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 27.88 and a beta of 0.72. The company's 50-day moving average is $59.60 and its two-hundred day moving average is $66.72. Exponent, Inc. has a 1-year low of $51.91 and a 1-year high of $81.95.

Exponent (NASDAQ:EXPO - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $166.30 million for the quarter, compared to analysts' expectations of $149.53 million. Exponent had a return on equity of 27.94% and a net margin of 18.07%.The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities analysts anticipate that Exponent, Inc. will post 2.28 earnings per share for the current fiscal year.

Exponent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, June 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.1%. Exponent's dividend payout ratio is currently 57.67%.

Insiders Place Their Bets

In related news, VP Joseph Rakow sold 2,945 shares of the firm's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $54.66, for a total transaction of $160,973.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Catherine Corrigan sold 4,194 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $54.06, for a total transaction of $226,727.64. Following the completion of the transaction, the chief executive officer directly owned 105,218 shares in the company, valued at $5,688,085.08. The trade was a 3.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 19,233 shares of company stock valued at $1,119,659. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EXPO. JPMorgan Chase & Co. decreased their target price on shares of Exponent from $95.00 to $80.00 and set an "overweight" rating on the stock in a research note on Friday, May 15th. Weiss Ratings restated a "hold (c-)" rating on shares of Exponent in a research report on Tuesday, April 21st. Finally, UBS Group reaffirmed a "neutral" rating and issued a $75.00 price target on shares of Exponent in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Exponent has a consensus rating of "Moderate Buy" and a consensus price target of $77.50.

About Exponent

Exponent, Inc NASDAQ: EXPO is an engineering and scientific consulting firm that offers multidisciplinary analysis and advisory services to clients across a range of industries. The company's expertise spans mechanical, materials and corrosion engineering, civil and structural engineering, electrical engineering, industrial hygiene, toxicology and health sciences, and failure analysis. Exponent provides support for product design, performance evaluation, litigation consulting, and regulatory compliance, helping manufacturers, insurers, law firms and government agencies address complex technical challenges.

Founded in 1967 in Menlo Park, California, Exponent has grown from a small failure-analysis laboratory into a global consulting practice.

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