USS Investment Management Ltd Acquires 3,462 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• USS Investment Management Ltd increased its stake in Expeditors International of Washington, Inc. by 12.3%, owning a total of 31,657 shares worth approximately $3.8 million.
• Several other institutional investors also boosted their holdings, with Boston Partners raising their position by 13.1% and Invesco Ltd. by 23.4% during the same quarter.
• The stock currently has an average rating of "Reduce" with a price target of $114.22, reflecting mixed sentiments from various Wall Street analysts.

USS Investment Management Ltd grew its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,657 shares of the transportation company's stock after acquiring an additional 3,462 shares during the period. USS Investment Management Ltd's holdings in Expeditors International of Washington were worth $3,806,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Expeditors International of Washington by 53.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company's stock worth $19,343,000 after acquiring an additional 56,008 shares during the period. State of Alaska Department of Revenue grew its holdings in Expeditors International of Washington by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 16,392 shares of the transportation company's stock worth $1,971,000 after acquiring an additional 430 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Expeditors International of Washington by 17.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,546 shares of the transportation company's stock worth $667,000 after acquiring an additional 834 shares during the period. Brown Advisory Inc. grew its holdings in Expeditors International of Washington by 2.4% during the 1st quarter. Brown Advisory Inc. now owns 10,390 shares of the transportation company's stock worth $1,249,000 after acquiring an additional 246 shares during the period. Finally, DAVENPORT & Co LLC acquired a new stake in Expeditors International of Washington during the 1st quarter worth about $203,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $118.05, for a total value of $173,533.50. Following the transaction, the vice president owned 7,651 shares of the company's stock, valued at approximately $903,200.55. This trade represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

EXPD has been the subject of a number of recent analyst reports. Bank of America downgraded Expeditors International of Washington from a "neutral" rating to an "underperform" rating and increased their price target for the stock from $117.00 to $118.00 in a report on Friday, July 11th. Baird R W raised Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. UBS Group raised their price objective on Expeditors International of Washington from $117.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Truist Financial raised their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Finally, JPMorgan Chase & Co. raised their price objective on Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Expeditors International of Washington presently has a consensus rating of "Reduce" and a consensus price target of $114.78.

Expeditors International of Washington Trading Up 0.2%

NASDAQ EXPD traded up $0.26 during trading hours on Friday, hitting $123.61. The company's stock had a trading volume of 1,058,851 shares, compared to its average volume of 1,352,780. Expeditors International of Washington, Inc. has a 52 week low of $100.47 and a 52 week high of $131.59. The company has a market capitalization of $16.78 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. The company's 50-day simple moving average is $118.17 and its two-hundred day simple moving average is $115.21.

Expeditors International of Washington Company Profile

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.