ProShare Advisors LLC decreased its position in shares of Exponent, Inc. (NASDAQ:EXPO – Free Report) by 93.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,998 shares of the business services provider’s stock after selling 118,107 shares during the period. ProShare Advisors LLC’s holdings in Exponent were worth $523,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Vise Technologies Inc. acquired a new stake in Exponent during the 3rd quarter valued at $343,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Exponent in the third quarter worth about $216,000. Signaturefd LLC lifted its holdings in Exponent by 77.5% during the 3rd quarter. Signaturefd LLC now owns 1,624 shares of the business services provider’s stock worth $106,000 after buying an additional 709 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in Exponent in the third quarter valued at about $379,000. Finally, Gibbs Wealth Management grew its position in shares of Exponent by 3.1% during the 3rd quarter. Gibbs Wealth Management now owns 4,759 shares of the business services provider’s stock worth $311,000 after buying an additional 142 shares during the period. Institutional investors own 92.37% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased 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. Zacks Research raised Exponent from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. UBS Group raised their price target on Exponent from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Finally, Weiss Ratings upgraded shares of Exponent from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.00.
Get Our Latest Analysis on Exponent
Insider Activity
In other Exponent news, VP Richard Reiss sold 1,280 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $86.44, for a total value of $110,643.20. Following the transaction, the vice president directly owned 1,008 shares of the company’s stock, valued at $87,131.52. This represents a 55.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Catherine Corrigan sold 1,707 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 129,108 shares in the company, valued at $8,557,278.24. This represents a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by insiders.
Exponent Stock Performance
Shares of NASDAQ EXPO opened at $85.46 on Tuesday. The stock has a 50 day moving average price of $72.01 and a 200 day moving average price of $67.00. The stock has a market capitalization of $4.06 billion, a PE ratio of 36.84 and a beta of 0.66. Exponent, Inc. has a 52 week low of $51.91 and a 52 week high of $90.51.
Exponent (NASDAQ:EXPO – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. Exponent had a return on equity of 34.61% and a net margin of 17.40%. The company had revenue of $173.73 million during the quarter, compared to the consensus estimate of $149.64 million. During the same quarter in the prior year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that Exponent, Inc. will post 2.36 EPS for the current year.
Exponent Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, December 4th. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. Exponent’s payout ratio is currently 53.45%.
Exponent Company Profile
Exponent, Inc is a multidisciplinary engineering and scientific consulting firm that helps clients investigate complex technical issues and manage risk. Its consultants analyze incidents such as product failures and accidents, assess potential hazards, and provide expert advice on engineering, scientific, and regulatory matters.
The company’s services span fields including engineering, materials science, environmental science, health, and data analytics. Clients use Exponent’s expertise for product development and testing, litigation support, regulatory compliance, and risk assessment across a range of industries.
Founded in 1967 as Failure Analysis Associates, the company adopted the Exponent name in 1998.
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