NewEdge Wealth LLC acquired a new stake in shares of XPO, Inc. (NYSE:XPO – Free Report) in the second quarter, HoldingsChannel reports. The firm acquired 3,684 shares of the transportation company’s stock, valued at approximately $756,000.
A number of other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in XPO by 73.3% in the 1st quarter. Renaissance Technologies LLC now owns 178,720 shares of the transportation company’s stock worth $34,770,000 after acquiring an additional 75,600 shares during the last quarter. Border to Coast Pensions Partnership Ltd purchased a new position in shares of XPO in the 1st quarter worth approximately $36,048,000. K.J. Harrison & Partners Inc bought a new position in shares of XPO during the 2nd quarter valued at approximately $4,927,000. Bank of New York Mellon Corp raised its holdings in XPO by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 716,747 shares of the transportation company’s stock valued at $139,443,000 after buying an additional 6,167 shares during the period. Finally, BlackRock Inc. bought a new stake in XPO in the second quarter worth $2,985,276,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on XPO shares. JPMorgan Chase & Co. increased their target price on shares of XPO from $208.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Citizens Jmp initiated coverage on shares of XPO in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. Morgan Stanley set a $105.00 target price on XPO and gave the company an “underweight” rating in a research note on Friday, May 1st. Citigroup decreased their price target on XPO from $226.00 to $221.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $247.00 price objective on shares of XPO in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.86.
Insider Activity at XPO
In related news, Director Allison Landry sold 2,400 shares of XPO stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $215.61, for a total value of $517,464.00. Following the transaction, the director directly owned 4,849 shares in the company, valued at $1,045,492.89. This trade represents a 33.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christopher Michael Brown sold 3,750 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total transaction of $757,275.00. Following the completion of the transaction, the chief accounting officer directly owned 31,005 shares of the company’s stock, valued at approximately $6,261,149.70. This trade represents a 10.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 7,400 shares of company stock valued at $1,526,502. 0.87% of the stock is owned by company insiders.
XPO Trading Up 1.0%
NYSE XPO opened at $198.74 on Friday. The firm has a market cap of $23.27 billion, a price-to-earnings ratio of 58.63, a PEG ratio of 2.01 and a beta of 1.85. XPO, Inc. has a one year low of $121.48 and a one year high of $232.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day simple moving average of $205.54 and a 200-day simple moving average of $204.95.
XPO (NYSE:XPO – Get Free Report) last issued its earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.22. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.28 billion. XPO had a net margin of 4.71% and a return on equity of 29.64%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. Equities research analysts anticipate that XPO, Inc. will post 5.44 EPS for the current fiscal year.
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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