Millennium Management LLC Cuts Holdings in Exponent, Inc. (NASDAQ:EXPO)

Millennium Management LLC trimmed its position in shares of Exponent, Inc. (NASDAQ:EXPO - Free Report) by 29.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,143 shares of the business services provider's stock after selling 21,269 shares during the period. Millennium Management LLC owned 0.10% of Exponent worth $4,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EXPO. Congress Asset Management Co. MA raised its position in shares of Exponent by 30.3% during the 4th quarter. Congress Asset Management Co. MA now owns 52,157 shares of the business services provider's stock valued at $4,592,000 after purchasing an additional 12,138 shares during the period. Vanguard Group Inc. increased its holdings in Exponent by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 4,995,605 shares of the business services provider's stock valued at $439,813,000 after acquiring an additional 19,795 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Exponent by 30.7% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 48,998 shares of the business services provider's stock valued at $4,314,000 after acquiring an additional 11,498 shares during the last quarter. Quadrature Capital Ltd increased its holdings in Exponent by 56.9% in the 4th quarter. Quadrature Capital Ltd now owns 3,847 shares of the business services provider's stock valued at $339,000 after acquiring an additional 1,395 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in Exponent in the 4th quarter valued at $262,000. 92.37% of the stock is currently owned by institutional investors.

Exponent Price Performance

Shares of Exponent stock traded up $2.08 during trading hours on Friday, reaching $112.78. The company's stock had a trading volume of 210,702 shares, compared to its average volume of 249,048. The firm has a 50 day moving average price of $107.76 and a 200-day moving average price of $98.15. Exponent, Inc. has a one year low of $64.61 and a one year high of $115.61. The stock has a market cap of $5.72 billion, a P/E ratio of 56.96 and a beta of 0.66.

Exponent (NASDAQ:EXPO - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. Exponent had a net margin of 19.35% and a return on equity of 28.39%. The firm had revenue of $132.43 million during the quarter, compared to analysts' expectations of $130.83 million. During the same period in the previous year, the company earned $0.50 EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Exponent, Inc. will post 2.04 EPS for the current fiscal year.

Exponent Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.12 annualized dividend and a yield of 0.99%. Exponent's dividend payout ratio (DPR) is 56.57%.

Analyst Ratings Changes

Separately, Truist Financial reiterated a "buy" rating and issued a $120.00 price target (up from $100.00) on shares of Exponent in a report on Friday, July 26th.

Insider Buying and Selling at Exponent

In other news, VP John Pye sold 3,956 shares of the company's stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $105.00, for a total value of $415,380.00. Following the completion of the sale, the vice president now owns 28,422 shares of the company's stock, valued at approximately $2,984,310. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

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.