6,847 Shares in XPO, Inc. $XPO Acquired by Contravisory Investment Management Inc.

Key Points

• Contravisory Investment Management acquired 6,847 XPO shares worth approximately $1.2 million during the third quarter. Institutional investors and hedge funds collectively own 97.73% of the company.
• XPO insiders sold 11,730 shares worth about $2.21 million over the past 90 days, including sales by the chief accounting officer and chief operating officer.
• Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $223.55. XPO recently reported quarterly earnings of $1.70 per share, exceeding estimates of $1.48, while revenue rose 13.2% year over year to $2.35 billion.

Contravisory Investment Management Inc. acquired a new stake in shares of XPO, Inc. (NYSE:XPO - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,847 shares of the transportation company's stock, valued at approximately $1,205,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. National Pension Service acquired a new stake in XPO during the second quarter worth about $37,695,000. Renaissance Technologies LLC lifted 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 purchased a new position in XPO in the 1st quarter valued at about $36,048,000. K.J. Harrison & Partners Inc purchased a new position in shares of XPO in the second quarter valued at approximately $4,927,000. Finally, MFN Partners Management LP acquired a new stake in XPO during the 2nd quarter worth $2,026,148,865. 97.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at XPO

In related news, CAO Christopher Brown sold 3,750 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total value of $757,275.00. Following the sale, the chief accounting officer directly owned 31,005 shares in the company, valued at approximately $6,261,149.70. The trade was a 10.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO David J. Bates sold 2,615 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $179.41, for a total transaction of $469,157.15. Following the completion of the sale, the chief operating officer owned 64,735 shares in the company, valued at approximately $11,614,106.35. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 11,730 shares of company stock worth $2,208,974. 0.87% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on XPO shares. JPMorgan Chase & Co. reduced their price objective on XPO from $214.00 to $205.00 and set an "overweight" rating on the stock in a research report on Monday, October 5th. BMO Capital Markets restated an "outperform" rating on shares of XPO in a report on Wednesday, October 7th. Evercore raised XPO from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. Sanford C. Bernstein assumed coverage on XPO in a report on Thursday, September 10th. They set an "outperform" rating and a $244.00 price target on the stock. Finally, Raymond James Financial lowered their price target on shares of XPO from $233.00 to $225.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $223.55.

XPO Trading Up 0.2%

Shares of NYSE XPO traded up $0.37 during midday trading on Tuesday, reaching $180.89. 663,959 shares of the stock were exchanged, compared to its average volume of 1,418,508. The stock has a market capitalization of $21.18 billion, a P/E ratio of 53.36, a PEG ratio of 1.84 and a beta of 1.85. 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 company has a 50 day simple moving average of $188.23 and a 200 day simple moving average of $201.87. XPO, Inc. has a twelve month low of $121.48 and a twelve month high of $232.05.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.22. XPO had a return on equity of 29.64% and a net margin of 4.71%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, equities analysts expect that XPO, Inc. will post 5.46 earnings per share for the current year.

About XPO

XPO, Inc is a transportation and logistics company that provides freight services to businesses in North America and Europe. Its primary business is less-than-truckload (LTL) transportation, which consolidates shipments from multiple customers onto individual trailers. The company serves manufacturers, retailers, distributors and other commercial customers.

XPO's services include regional, interregional and cross-border LTL transportation, freight pickup and delivery, shipment tracking, and related supply chain solutions.

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