Envestnet Asset Management Inc. Trims Stock Position in Exponent, Inc. $EXPO

Envestnet Asset Management Inc. cut its holdings in shares of Exponent, Inc. (NASDAQ:EXPO) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,054 shares of the business services provider’s stock after selling 16,592 shares during the quarter. Envestnet Asset Management Inc. owned about 0.84% of Exponent worth $31,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXPO. Brooklyn Investment Group increased its stake in Exponent by 10,200.0% during the first quarter. Brooklyn Investment Group now owns 309 shares of the business services provider’s stock worth $25,000 after acquiring an additional 306 shares during the last quarter. SVB Wealth LLC acquired a new stake in Exponent during the first quarter worth about $80,000. Caitong International Asset Management Co. Ltd increased its stake in Exponent by 8,092.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,147 shares of the business services provider’s stock worth $93,000 after acquiring an additional 1,133 shares during the last quarter. Covestor Ltd increased its stake in Exponent by 43.7% during the first quarter. Covestor Ltd now owns 1,785 shares of the business services provider’s stock worth $145,000 after acquiring an additional 543 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in Exponent during the second quarter worth about $167,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Exponent

In related news, CEO Catherine Corrigan sold 4,930 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $66.82, for a total transaction of $329,422.60. Following the transaction, the chief executive officer directly owned 82,753 shares in the company, valued at $5,529,555.46. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph Sala sold 1,595 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $70.64, for a total value of $112,670.80. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,326 shares of company stock worth $1,133,059 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Exponent in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Exponent has a consensus rating of “Hold”.

Exponent Stock Up 6.0%

Shares of NASDAQ EXPO opened at $70.81 on Monday. Exponent, Inc. has a fifty-two week low of $63.81 and a fifty-two week high of $112.75. The business has a 50 day moving average price of $69.17 and a two-hundred day moving average price of $72.97. The firm has a market cap of $3.58 billion, a PE ratio of 35.41 and a beta of 0.91.

Exponent (NASDAQ:EXPO) last issued its quarterly earnings data on Thursday, October 30th. The business services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $137.07 million during the quarter, compared to analyst estimates of $131.78 million. Exponent had a return on equity of 24.19% and a net margin of 18.35%.Exponent’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. On average, analysts anticipate that Exponent, Inc. will post 1.98 earnings per share for the current year.

Exponent declared that its Board of Directors has initiated a stock buyback program on Thursday, October 30th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Exponent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, December 5th. This represents a $1.20 annualized dividend and a yield of 1.7%. Exponent’s dividend payout ratio (DPR) is 58.54%.

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.