Prudential Financial Inc. Reduces Stake in Exponent, Inc. (NASDAQ:EXPO)
Prudential Financial Inc. lowered its holdings in Exponent, Inc. (NASDAQ:EXPO) by 3.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 84,660 shares of the business services provider’s stock after selling 3,370 shares during the quarter. Prudential Financial Inc.’s holdings in Exponent were worth $4,956,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in EXPO. Bremer Bank National Association acquired a new stake in Exponent during the 1st quarter worth approximately $55,000. NN Investment Partners Holdings N.V. acquired a new stake in Exponent during the 2nd quarter worth approximately $91,000. Cim LLC acquired a new stake in Exponent during the 2nd quarter worth approximately $200,000. Coldstream Capital Management Inc. acquired a new stake in Exponent during the 1st quarter worth approximately $210,000. Finally, Clarus Wealth Advisors lifted its position in Exponent by 5.1% during the 2nd quarter. Clarus Wealth Advisors now owns 4,022 shares of the business services provider’s stock worth $235,000 after acquiring an additional 194 shares during the period. Institutional investors and hedge funds own 88.11% of the company’s stock.
A number of research firms have weighed in on EXPO. DA Davidson initiated coverage on Exponent in a research report on Wednesday, August 28th. They set a “neutral” rating for the company. ValuEngine raised Exponent from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research raised Exponent from a “hold” rating to a “strong-buy” rating and set a $76.00 price target for the company in a report on Monday, July 22nd. BidaskClub cut Exponent from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, SunTrust Banks set a $70.00 price target on Exponent and gave the company a “buy” rating in a report on Friday, July 19th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.00.
Exponent (NASDAQ:EXPO) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.06. The business had revenue of $106.50 million during the quarter, compared to the consensus estimate of $95.77 million. Exponent had a return on equity of 23.44% and a net margin of 19.64%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Equities research analysts predict that Exponent, Inc. will post 1.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, September 5th. Exponent’s dividend payout ratio is currently 51.20%.
In other news, insider Harri Kytomaa sold 2,000 shares of Exponent stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.09, for a total value of $140,180.00. Following the completion of the sale, the insider now owns 9,399 shares of the company’s stock, valued at $658,775.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard L. Schlenker, Jr. sold 75,530 shares of Exponent stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $70.26, for a total value of $5,306,737.80. Following the completion of the sale, the chief financial officer now directly owns 251,805 shares of the company’s stock, valued at approximately $17,691,819.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,773 shares of company stock valued at $7,227,536. Company insiders own 2.30% of the company’s stock.
Exponent Company Profile
Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company worldwide. Its services include analysis of product development, product recall, regulatory compliance, and the discovery of potential problems related to products, people, property, and impending litigation.
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