7,395 Shares in XPO, Inc. $XPO Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management purchased 7,395 XPO shares worth approximately $1.52 million during the second quarter. Institutional investors collectively own 97.73% of XPO’s outstanding stock.
• XPO reported stronger-than-expected quarterly results, with earnings per share of $1.70 versus the $1.48 consensus estimate and revenue of $2.35 billion, up 13.2% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $225.86 price target; however, company insiders sold 7,400 shares worth about $1.53 million over the past three months.

Assenagon Asset Management S.A. purchased a new position in XPO, Inc. (NYSE:XPO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,395 shares of the transportation company's stock, valued at approximately $1,518,000.

A number of other institutional investors have also bought and sold shares of the business. Invesco Ltd. grew its position in XPO by 19.8% in the third quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company's stock worth $810,249,000 after acquiring an additional 1,036,434 shares during the period. Durable Capital Partners LP grew its stake in shares of XPO by 20.5% in the third quarter. Durable Capital Partners LP now owns 4,331,280 shares of the transportation company's stock worth $559,905,000 after acquiring an additional 736,224 shares in the last quarter. Orbis Allan Gray Ltd increased its holdings in XPO by 15.8% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company's stock worth $496,423,000 after purchasing an additional 499,220 shares during the period. Clearbridge Investments LLC increased its position in shares of XPO by 9.7% in the 4th quarter. Clearbridge Investments LLC now owns 2,970,231 shares of the transportation company's stock valued at $403,684,000 after purchasing an additional 261,935 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in XPO by 115.9% in the first quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company's stock valued at $470,986,000 after buying an additional 1,299,480 shares in the last quarter. 97.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at XPO

In other XPO news, CAO Christopher Michael Brown sold 3,750 shares of the stock in a transaction on Tuesday, August 11th. The stock was 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 of the company's stock, valued at $6,261,149.70. This trade represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Allison Landry sold 2,400 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $215.61, for a total transaction of $517,464.00. Following the transaction, the director directly owned 4,849 shares of the company's stock, valued at approximately $1,045,492.89. This trade represents a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 7,400 shares of company stock worth $1,526,502. Company insiders own 0.87% of the company's stock.

XPO Price Performance

Shares of XPO stock opened at $211.04 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $24.71 billion, a P/E ratio of 62.25, a P/E/G ratio of 2.14 and a beta of 1.85. XPO, Inc. has a 1-year low of $121.48 and a 1-year high of $232.05. The firm has a fifty day moving average of $207.90 and a two-hundred day moving average of $203.11.

XPO (NYSE:XPO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $1.05 EPS. The business's revenue was up 13.2% compared to the same quarter last year. As a group, research analysts anticipate that XPO, Inc. will post 5.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

XPO has been the subject of several recent analyst reports. Truist Financial set a $240.00 price objective on shares of XPO in a research report on Friday, May 1st. TD Cowen lifted their target price on XPO from $224.00 to $228.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Morgan Stanley set a $105.00 price target on shares of XPO and gave the stock an "underweight" rating in a research note on Friday, May 1st. Benchmark increased their price objective on XPO from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, UBS Group increased their target price on shares of XPO from $236.00 to $257.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, XPO presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.86.

XPO Company Profile

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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