Hsbc Holdings PLC reduced its position in shares of XPO, Inc. (NYSE:XPO – Free Report) by 25.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,215 shares of the transportation company’s stock after selling 4,796 shares during the quarter. Hsbc Holdings PLC’s holdings in XPO were worth $1,936,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Durable Capital Partners LP lifted its stake in shares of XPO by 79.3% in the 2nd quarter. Durable Capital Partners LP now owns 3,595,056 shares of the transportation company’s stock worth $454,020,000 after purchasing an additional 1,589,759 shares during the period. Norges Bank bought a new stake in XPO during the fourth quarter valued at approximately $204,304,000. Bessemer Group Inc. increased its holdings in XPO by 228,761.0% during the fourth quarter. Bessemer Group Inc. now owns 1,121,419 shares of the transportation company’s stock valued at $152,411,000 after buying an additional 1,120,929 shares during the last quarter. Invesco Ltd. increased its holdings in XPO by 19.8% during the third quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company’s stock valued at $810,249,000 after buying an additional 1,036,434 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its position in XPO by 15.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company’s stock worth $496,423,000 after acquiring an additional 499,220 shares during the period. Hedge funds and other institutional investors own 97.73% of the company’s stock.
Insider Buying and Selling at XPO
In other news, Director Allison Landry sold 2,400 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $215.61, for a total value of $517,464.00. Following the sale, the director directly owned 4,849 shares in the company, valued at $1,045,492.89. The trade was a 33.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by company insiders.
XPO Price Performance
XPO (NYSE:XPO – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. XPO had a return on equity of 26.21% and a net margin of 4.19%.The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. On average, research analysts anticipate that XPO, Inc. will post 4.9 earnings per share for the current year.
Key Stories Impacting XPO
Here are the key news stories impacting XPO this week:
- Positive Sentiment: Stephens upgraded XPO to “strong-buy,” signaling increased confidence in the company’s outlook. XPO upgraded by Stephens to strong-buy
- Positive Sentiment: Barron’s highlighted XPO as one of several transport stocks that could benefit from soaring freight rates, which is a bullish backdrop for trucking and logistics names. XPO and 7 More Transport Stocks to Play Soaring Freight Rates
- Neutral Sentiment: Citigroup lowered its price target on XPO to $226 from $236 but kept a neutral rating, suggesting only limited near-term upside rather than a major deterioration in fundamentals. XPO Price Target Lowered to 226 at Citigroup
- Neutral Sentiment: Brokerage coverage data also pointed to an overall “moderate buy” consensus, indicating analysts remain generally constructive on the stock. XPO Given Average Recommendation of Moderate Buy by Brokerages
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of XPO from $236.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Zacks Research upgraded XPO from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. BMO Capital Markets boosted their price target on XPO from $240.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Truist Financial set a $240.00 price target on XPO in a research report on Friday, May 1st. Finally, Weiss Ratings raised XPO from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $219.86.
Read Our Latest Stock Analysis on XPO
About XPO
XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company’s operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.
In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.
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