Envestnet Asset Management Inc. Has $28.10 Million Stock Position in Exponent, Inc. $EXPO

Envestnet Asset Management Inc. lessened its stake in Exponent, Inc. (NASDAQ:EXPO) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 404,459 shares of the business services provider’s stock after selling 20,595 shares during the quarter. Envestnet Asset Management Inc. owned about 0.80% of Exponent worth $28,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Exponent in the 2nd quarter valued at about $43,752,000. First Trust Advisors LP bought a new position in Exponent in the second quarter valued at approximately $18,377,000. Bamco Inc. NY increased its stake in Exponent by 49.9% in the second quarter. Bamco Inc. NY now owns 501,239 shares of the business services provider’s stock valued at $37,448,000 after acquiring an additional 166,930 shares during the last quarter. Geneva Capital Management LLC raised its position in Exponent by 7.6% during the second quarter. Geneva Capital Management LLC now owns 1,877,765 shares of the business services provider’s stock valued at $140,288,000 after purchasing an additional 131,937 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Exponent by 25.1% during the second quarter. JPMorgan Chase & Co. now owns 638,081 shares of the business services provider’s stock worth $47,671,000 after purchasing an additional 128,131 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Exponent Price Performance

Exponent stock opened at $67.13 on Friday. The stock’s 50 day moving average is $72.98 and its 200 day moving average is $71.01. The firm has a market cap of $3.35 billion, a P/E ratio of 32.27 and a beta of 0.79. Exponent, Inc. has a one year low of $63.81 and a one year high of $91.41.

Exponent (NASDAQ:EXPO) last released its quarterly earnings results on Thursday, February 5th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Exponent had a net margin of 18.21% and a return on equity of 25.51%. The firm had revenue of $147.43 million during the quarter, compared to analyst estimates of $128.48 million. During the same quarter last year, the business earned $0.46 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Exponent, Inc. will post 1.98 earnings per share for the current fiscal year.

Exponent Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a $0.31 dividend. This is a boost from Exponent’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Exponent’s dividend payout ratio is 57.69%.

Exponent declared that its board has initiated a share buyback program on Thursday, October 30th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group reiterated a “neutral” rating and issued a $85.00 price target on shares of Exponent in a research note on Monday. JPMorgan Chase & Co. assumed coverage on Exponent in a research report on Monday, January 26th. They issued an “overweight” rating and a $100.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Exponent in a research note on Thursday, January 22nd. Finally, William Blair raised shares of Exponent from a “market perform” rating to an “outperform” rating in a report on Monday, November 17th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Insider Transactions at Exponent

In related news, VP John Pye sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $75.97, for a total transaction of $303,880.00. Following the sale, the vice president owned 25,204 shares in the company, valued at $1,914,747.88. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Catherine Corrigan sold 4,900 shares of Exponent stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $70.39, for a total value of $344,911.00. Following the completion of the sale, the chief executive officer owned 83,429 shares of the company’s stock, valued at approximately $5,872,567.31. The trade was a 5.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,788 shares of company stock worth $997,528 over the last three months. 1.60% of the stock is owned by company insiders.

Exponent Profile

Exponent, Inc (NASDAQ: EXPO) is an engineering and scientific consulting firm that offers multidisciplinary analysis and advisory services to clients across a range of industries. The company’s expertise spans mechanical, materials and corrosion engineering, civil and structural engineering, electrical engineering, industrial hygiene, toxicology and health sciences, and failure analysis. Exponent provides support for product design, performance evaluation, litigation consulting, and regulatory compliance, helping manufacturers, insurers, law firms and government agencies address complex technical challenges.

Founded in 1967 in Menlo Park, California, Exponent has grown from a small failure-analysis laboratory into a global consulting practice.