Fortis Group Advisors LLC Buys Shares of 19,890 Expeditors International of Washington, Inc. $EXPD

Key Points

• Fortis Group Advisors LLC disclosed a new fourth-quarter stake in Expeditors International of Washington, buying 19,890 shares valued at about $3.19 million.
• Institutional ownership remains high, with several large investors increasing positions; the article notes that 94.02% of the stock is held by hedge funds and other institutions.
• Expeditors recently reported better-than-expected earnings of $1.71 per share on 4.4% revenue growth, while analysts currently have a Hold consensus and a price target of $137.30.

Fortis Group Advisors LLC bought a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,890 shares of the transportation company's stock, valued at approximately $3,193,000.

A number of other large investors have also made changes to their positions in the stock. State Street Corp grew its position in shares of Expeditors International of Washington by 5.2% in the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock valued at $945,004,000 after purchasing an additional 377,703 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Expeditors International of Washington by 0.5% in the fourth quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company's stock valued at $940,597,000 after purchasing an additional 32,063 shares in the last quarter. Marshfield Associates grew its position in shares of Expeditors International of Washington by 4.6% in the third quarter. Marshfield Associates now owns 1,942,740 shares of the transportation company's stock valued at $238,161,000 after purchasing an additional 86,182 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Expeditors International of Washington by 64.1% in the third quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company's stock valued at $235,486,000 after purchasing an additional 749,993 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Expeditors International of Washington by 733.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company's stock valued at $231,432,000 after purchasing an additional 1,661,457 shares in the last quarter. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wolfe Research upgraded Expeditors International of Washington from a "strong sell" rating to a "hold" rating in a research report on Monday, March 9th. Susquehanna upped their price target on Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Truist Financial dropped their price target on Expeditors International of Washington from $160.00 to $140.00 and set a "hold" rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. upped their price objective on Expeditors International of Washington from $135.00 to $139.00 and gave the company an "underweight" rating in a report on Wednesday, May 6th. Finally, Zacks Research upgraded Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $137.30.

Expeditors International of Washington Stock Performance

Shares of Expeditors International of Washington stock opened at $158.47 on Thursday. The firm has a market capitalization of $20.73 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 5.00 and a beta of 1.04. Expeditors International of Washington, Inc. has a fifty-two week low of $109.90 and a fifty-two week high of $167.19. The stock has a 50 day moving average of $147.42 and a 200 day moving average of $149.28.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same quarter last year, the company earned $1.47 earnings per share. The business's revenue for the quarter was up 4.4% on a year-over-year basis. Analysts forecast that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Expeditors International of Washington Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.81 per share. This represents a dividend yield of 106.0%. The ex-dividend date is Monday, June 1st. Expeditors International of Washington's dividend payout ratio (DPR) is currently 26.21%.

Expeditors International of Washington Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company's core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.

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