398,747 Shares in XPO, Inc. $XPO Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 398,747 XPO shares during the second quarter, worth approximately $81.9 million and representing 0.34% of the company. Institutional investors and hedge funds collectively own 97.73% of XPO.
• XPO reported stronger-than-expected quarterly results, with EPS of $1.70 versus the $1.48 consensus estimate and revenue of $2.35 billion, up 13.2% year over year.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $225.82, although insiders sold 8,365 shares worth $1.61 million over the past 90 days.

Bank of America Corp DE acquired a new stake in shares of XPO, Inc. (NYSE:XPO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 398,747 shares of the transportation company's stock, valued at approximately $81,859,000. Bank of America Corp DE owned 0.34% of XPO at the end of the most recent quarter.

A number of other large investors have also modified their holdings of XPO. Renaissance Technologies LLC boosted its holdings in XPO by 73.3% during the first quarter. Renaissance Technologies LLC now owns 178,720 shares of the transportation company's stock valued at $34,770,000 after purchasing an additional 75,600 shares in the last quarter. Border to Coast Pensions Partnership Ltd acquired a new position in shares of XPO in the 1st quarter worth approximately $36,048,000. K.J. Harrison & Partners Inc acquired a new position in shares of XPO in the 2nd quarter worth approximately $4,927,000. MFN Partners Management LP acquired a new position in shares of XPO in the 2nd quarter worth approximately $2,026,148,865. Finally, BlackRock Inc. bought a new position in shares of XPO during the 2nd quarter worth approximately $2,985,276,000. 97.73% of the stock is currently owned by institutional investors and hedge funds.

XPO Trading Down 0.5%

XPO opened at $174.45 on Friday. XPO, Inc. has a 1-year low of $121.48 and a 1-year high of $232.05. The stock has a market capitalization of $20.43 billion, a PE ratio of 51.46, a PEG ratio of 1.77 and a beta of 1.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average price of $197.96 and a two-hundred day moving average price of $203.47.

XPO (NYSE:XPO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.48 by $0.22. The business 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%. XPO's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. As a group, equities analysts anticipate that XPO, Inc. will post 5.42 earnings per share for the current fiscal year.

Insider Activity at XPO

In related news, CFO Kyle Wismans sold 750 shares of XPO stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $178.52, for a total value of $133,890.00. Following the completion of the sale, the chief financial officer directly owned 48,716 shares in the company, valued at $8,696,780.32. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christopher Brown sold 3,750 shares of the firm's 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 in the company, valued at $6,261,149.70. This trade represents a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,365 shares of company stock worth $1,612,085 over the last 90 days. Insiders own 0.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on XPO shares. BMO Capital Markets boosted their target price on shares of XPO from $240.00 to $245.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. increased their target price on shares of XPO from $208.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 8th. Raymond James Financial cut their price target on shares of XPO from $233.00 to $225.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Oppenheimer boosted their price target on shares of XPO from $236.00 to $238.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Finally, TD Cowen upped their price objective on shares of XPO from $224.00 to $228.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $225.82.

About XPO

XPO, Inc is a transportation and logistics company that provides freight-moving services to businesses in North America and Europe. Its operations are centered on less-than-truckload (LTL) transportation, which consolidates shipments from multiple customers onto individual trucks. The company serves manufacturers, retailers, wholesalers and other commercial customers through a network of terminals, drivers and freight-handling facilities.

In addition to LTL shipping, XPO provides truck brokerage and other transportation-management services, helping customers arrange freight capacity and manage the movement of goods.

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