Norges Bank Buys New Shares in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Norges Bank purchased a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) in the fourth quarter, Holdings Channel.com reports. The firm purchased 973,752 shares of the transportation company’s stock, valued at approximately $107,863,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EXPD. CreativeOne Wealth LLC bought a new stake in Expeditors International of Washington during the 3rd quarter valued at approximately $239,000. Public Sector Pension Investment Board raised its position in shares of Expeditors International of Washington by 19.6% during the third quarter. Public Sector Pension Investment Board now owns 6,102 shares of the transportation company’s stock valued at $802,000 after buying an additional 1,000 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Expeditors International of Washington by 11.8% in the third quarter. Captrust Financial Advisors now owns 3,733 shares of the transportation company’s stock worth $490,000 after buying an additional 395 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Expeditors International of Washington by 6.0% during the third quarter. Verition Fund Management LLC now owns 14,628 shares of the transportation company’s stock worth $1,922,000 after acquiring an additional 822 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Expeditors International of Washington during the third quarter valued at $930,000. 94.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on EXPD shares. Bank of America decreased their price target on shares of Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. StockNews.com lowered Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Sunday, February 16th. Susquehanna lifted their price objective on Expeditors International of Washington from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, February 19th. Finally, Truist Financial initiated coverage on shares of Expeditors International of Washington in a research report on Thursday, March 13th. They issued a “hold” rating and a $110.00 price target on the stock. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.90.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock opened at $122.23 on Wednesday. The firm has a market capitalization of $16.84 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 5.00 and a beta of 1.00. Expeditors International of Washington, Inc. has a 1-year low of $108.36 and a 1-year high of $131.59. The company’s 50-day moving average is $116.18 and its 200 day moving average is $117.81.

Insider Transactions at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $117.54, for a total value of $146,925.00. Following the transaction, the vice president now directly owns 7,296 shares in the company, valued at approximately $857,571.84. This represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.