Exponent, Inc. (NASDAQ:EXPO) Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of Exponent, Inc. (NASDAQ:EXPO) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,624 shares of the business services provider’s stock after selling 334 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Exponent were worth $861,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EXPO. Franklin Resources Inc. boosted its stake in Exponent by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 3,710 shares of the business services provider’s stock valued at $331,000 after acquiring an additional 189 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Exponent by 1.5% during the fourth quarter. Bank of Montreal Can now owns 8,747 shares of the business services provider’s stock worth $779,000 after purchasing an additional 131 shares during the period. Invesco Ltd. raised its holdings in shares of Exponent by 1.1% during the fourth quarter. Invesco Ltd. now owns 1,188,373 shares of the business services provider’s stock worth $105,884,000 after purchasing an additional 13,263 shares during the period. Townsquare Capital LLC raised its holdings in shares of Exponent by 11.8% during the fourth quarter. Townsquare Capital LLC now owns 29,049 shares of the business services provider’s stock worth $2,588,000 after purchasing an additional 3,068 shares during the period. Finally, Barclays PLC raised its holdings in shares of Exponent by 88.5% during the fourth quarter. Barclays PLC now owns 181,921 shares of the business services provider’s stock worth $16,209,000 after purchasing an additional 85,395 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Exponent Stock Performance

Shares of NASDAQ:EXPO opened at $69.73 on Tuesday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 34.87 and a beta of 0.89. Exponent, Inc. has a 1-year low of $63.81 and a 1-year high of $115.75. The company’s fifty day moving average is $74.00 and its two-hundred day moving average is $79.24.

Exponent (NASDAQ:EXPO) last issued its earnings results on Thursday, July 31st. The business services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $132.87 million for the quarter, compared to analysts’ expectations of $130.82 million. Exponent had a net margin of 18.35% and a return on equity of 24.19%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. Sell-side analysts expect that Exponent, Inc. will post 1.98 EPS for the current fiscal year.

Exponent Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. Exponent’s dividend payout ratio is 60.00%.

Insiders Place Their Bets

In related news, VP Bradley A. James sold 2,694 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $79.52, for a total value of $214,226.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph Rakow sold 1,573 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $77.72, for a total transaction of $122,253.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,267 shares of company stock valued at $489,120. Company insiders own 1.60% of the company’s stock.

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.