PNC Financial Services Group Inc. Sells 2,160 Shares of Exponent, Inc. (NASDAQ:EXPO)

PNC Financial Services Group Inc. reduced its holdings in shares of Exponent, Inc. (NASDAQ:EXPO) by 17.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,282 shares of the business services provider’s stock after selling 2,160 shares during the period. PNC Financial Services Group Inc.’s holdings in Exponent were worth $905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in EXPO. Kestra Advisory Services LLC grew its holdings in shares of Exponent by 8.9% in the third quarter. Kestra Advisory Services LLC now owns 2,816 shares of the business services provider’s stock worth $241,000 after purchasing an additional 229 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Exponent by 89.4% in the third quarter. Invesco Ltd. now owns 594,343 shares of the business services provider’s stock worth $50,876,000 after purchasing an additional 280,600 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Exponent by 22.0% in the third quarter. Hsbc Holdings PLC now owns 12,176 shares of the business services provider’s stock worth $1,045,000 after purchasing an additional 2,199 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Exponent by 31.5% in the third quarter. LPL Financial LLC now owns 46,061 shares of the business services provider’s stock worth $3,943,000 after purchasing an additional 11,023 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Exponent by 10.1% in the third quarter. Mariner LLC now owns 16,739 shares of the business services provider’s stock worth $1,433,000 after purchasing an additional 1,539 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Exponent from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, April 29th. StockNews.com raised Exponent from a “sell” rating to a “hold” rating in a research note on Monday, March 4th.

Insider Activity

In other news, Director Paul R. Johnston sold 6,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $95.11, for a total transaction of $570,660.00. Following the completion of the sale, the director now owns 79,236 shares of the company’s stock, valued at approximately $7,536,135.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Eric Guyer sold 1,650 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $92.58, for a total transaction of $152,757.00. Following the completion of the sale, the insider now owns 1,846 shares of the company’s stock, valued at approximately $170,902.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul R. Johnston sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $95.11, for a total transaction of $570,660.00. Following the completion of the sale, the director now directly owns 79,236 shares of the company’s stock, valued at $7,536,135.96. The disclosure for this sale can be found here. Insiders sold 50,067 shares of company stock valued at $4,734,995 in the last quarter. 2.10% of the stock is currently owned by insiders.

Exponent Stock Up 0.9 %

Shares of EXPO stock opened at $96.22 on Tuesday. Exponent, Inc. has a 52 week low of $64.61 and a 52 week high of $102.72. The stock has a fifty day moving average of $92.32 and a 200 day moving average of $86.33. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 48.60 and a beta of 0.65.

Exponent (NASDAQ:EXPO) last issued its earnings results on Thursday, April 25th. The business services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Exponent had a return on equity of 28.13% and a net margin of 18.72%. The business had revenue of $137.21 million during the quarter, compared to analyst estimates of $125.98 million. During the same quarter in the previous year, the firm earned $0.56 EPS. Exponent’s revenue was up 6.6% on a year-over-year basis. Equities research analysts anticipate that Exponent, Inc. will post 1.92 earnings per share for the current year.

Exponent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, June 7th. Exponent’s payout ratio is currently 56.57%.

About Exponent

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.