First Trust Advisors LP Sells 9,084 Shares of Exponent, Inc. (NASDAQ:EXPO)

First Trust Advisors LP cut its holdings in Exponent, Inc. (NASDAQ:EXPO) by 10.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,380 shares of the business services provider’s stock after selling 9,084 shares during the period. First Trust Advisors LP owned about 0.16% of Exponent worth $5,790,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EXPO. 6 Meridian grew its holdings in Exponent by 19.9% during the third quarter. 6 Meridian now owns 3,613 shares of the business services provider’s stock valued at $260,000 after purchasing an additional 600 shares during the period. Raymond James & Associates grew its holdings in Exponent by 21.9% during the third quarter. Raymond James & Associates now owns 186,680 shares of the business services provider’s stock valued at $13,447,000 after purchasing an additional 33,509 shares during the period. Shelton Capital Management bought a new position in Exponent during the second quarter valued at $300,000. Swiss National Bank grew its holdings in Exponent by 15.1% during the second quarter. Swiss National Bank now owns 115,700 shares of the business services provider’s stock valued at $9,364,000 after purchasing an additional 15,200 shares during the period. Finally, Stifel Financial Corp grew its holdings in Exponent by 728.0% during the second quarter. Stifel Financial Corp now owns 42,013 shares of the business services provider’s stock valued at $3,400,000 after purchasing an additional 36,939 shares during the period. 89.68% of the stock is owned by institutional investors.

NASDAQ EXPO opened at $82.25 on Friday. The stock’s 50-day simple moving average is $74.73 and its two-hundred day simple moving average is $76.30. Exponent, Inc. has a twelve month low of $58.03 and a twelve month high of $84.96. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 54.83 and a beta of 0.19.

Exponent (NASDAQ:EXPO) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.07. The firm had revenue of $98.70 million for the quarter, compared to the consensus estimate of $91.73 million. Exponent had a return on equity of 23.66% and a net margin of 19.63%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. Analysts expect that Exponent, Inc. will post 1.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $0.19 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 0.92%. Exponent’s dividend payout ratio is currently 49.67%.

Several brokerages have weighed in on EXPO. BidaskClub raised Exponent from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 28th. William Blair reaffirmed a “market perform” rating on shares of Exponent in a report on Monday, November 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $88.67.

In related news, VP Maureen T. F. Reitman sold 4,140 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $72.46, for a total value of $299,984.40. Following the sale, the vice president now directly owns 38,567 shares of the company’s stock, valued at $2,794,564.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Reiss sold 3,209 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $82.50, for a total value of $264,742.50. Following the completion of the sale, the vice president now directly owns 5,798 shares in the company, valued at $478,335. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,955 shares of company stock worth $12,833,163. Company insiders own 2.20% of the company’s stock.

Exponent 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.

Further Reading: Stochastic Momentum Index (SMI)

Institutional Ownership by Quarter for Exponent (NASDAQ:EXPO)

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