Norges Bank Buys Shares of 973,752 Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Norges Bank purchased a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 973,752 shares of the transportation company’s stock, valued at approximately $107,863,000. Norges Bank owned approximately 0.70% of Expeditors International of Washington as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Manchester Capital Management LLC boosted its holdings in Expeditors International of Washington by 3.5% in the fourth quarter. Manchester Capital Management LLC now owns 3,032 shares of the transportation company’s stock worth $336,000 after acquiring an additional 103 shares in the last quarter. Chapman Investment Management LLC raised its position in shares of Expeditors International of Washington by 0.6% in the 4th quarter. Chapman Investment Management LLC now owns 18,967 shares of the transportation company’s stock worth $2,101,000 after purchasing an additional 112 shares during the last quarter. OLD National Bancorp IN boosted its stake in Expeditors International of Washington by 5.3% in the 4th quarter. OLD National Bancorp IN now owns 2,234 shares of the transportation company’s stock worth $247,000 after purchasing an additional 113 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Expeditors International of Washington by 17.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 778 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 114 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Expeditors International of Washington by 1.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,436 shares of the transportation company’s stock valued at $824,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EXPD shares. UBS Group cut their price target on shares of Expeditors International of Washington from $130.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Susquehanna lifted their target price on Expeditors International of Washington from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Benchmark reaffirmed a “hold” rating on shares of Expeditors International of Washington in a report on Wednesday, February 19th. Bank of America dropped their price objective on Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Truist Financial initiated coverage on Expeditors International of Washington in a research report on Thursday, March 13th. They issued a “hold” rating and a $110.00 target price for the company. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $115.90.

Insider Buying and Selling

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $117.54, for a total value of $146,925.00. Following the completion of the sale, the vice president now owns 7,296 shares in the company, valued at $857,571.84. This represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by insiders.

Expeditors International of Washington Trading Up 1.6 %

EXPD opened at $122.23 on Wednesday. Expeditors International of Washington, Inc. has a 1-year low of $108.36 and a 1-year high of $131.59. The firm’s 50 day simple moving average is $116.18 and its two-hundred day simple moving average is $117.81. The company has a market capitalization of $16.84 billion, a PE ratio of 21.37, a PEG ratio of 5.00 and a beta of 1.00.

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.