Nordea Investment Management AB Increases Stock Position in Expeditors International of Washington, Inc. $EXPD

Nordea Investment Management AB increased its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 603,252 shares of the transportation company’s stock after purchasing an additional 21,427 shares during the quarter. Nordea Investment Management AB owned 0.44% of Expeditors International of Washington worth $68,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Expeditors International of Washington by 53.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company’s stock valued at $19,343,000 after purchasing an additional 56,008 shares during the period. State of Alaska Department of Revenue boosted its stake 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 valued at $1,971,000 after acquiring an additional 430 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake 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 valued at $667,000 after acquiring an additional 834 shares during the last quarter. Brown Advisory Inc. boosted its stake 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 valued at $1,249,000 after acquiring an additional 246 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new position in Expeditors International of Washington during the 1st quarter valued at $203,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $118.05, for a total transaction of $173,533.50. Following the completion of the sale, the vice president directly owned 7,651 shares in the company, valued at approximately $903,200.55. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EXPD. Bank of America downgraded shares of Expeditors International of Washington from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $117.00 to $118.00 in a research note on Friday, July 11th. Truist Financial increased their price objective on shares of 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. Barclays increased their price objective on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, September 11th. Stifel Nicolaus reduced their price objective on shares of Expeditors International of Washington from $118.00 to $114.00 and set a “hold” rating on the stock in a research note on Friday, October 10th. Finally, UBS Group increased their target price on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Expeditors International of Washington currently has an average rating of “Reduce” and a consensus target price of $114.44.

Expeditors International of Washington Trading Up 1.5%

NASDAQ:EXPD opened at $120.00 on Friday. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $129.15. The company has a 50-day moving average of $120.79 and a 200-day moving average of $115.58. The firm has a market cap of $16.29 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 5.00 and a beta of 1.09.

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.