Allspring Global Investments Holdings LLC Purchases 124,668 Shares of XPO, Inc. $XPO

Key Points

• Allspring Global Investments increased its XPO stake by 25.5% in the third quarter, buying 124,668 shares and bringing its holdings to 613,941 shares, valued at about $110.3 million.
• XPO reported quarterly earnings of $1.70 per share, beating the $1.58 consensus estimate; revenue rose 12.4% year over year to $2.37 billion, slightly below expectations.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $221.45. Recent ratings included several Buy calls and a Neutral rating from Susquehanna.

Allspring Global Investments Holdings LLC lifted its position in XPO, Inc. (NYSE:XPO - Free Report) by 25.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 613,941 shares of the transportation company's stock after buying an additional 124,668 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.53% of XPO worth $110,344,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in XPO. Candriam S.C.A. raised its holdings in shares of XPO by 11.4% during the 3rd quarter. Candriam S.C.A. now owns 8,705 shares of the transportation company's stock valued at $1,538,000 after purchasing an additional 890 shares in the last quarter. Ethic Inc. raised its holdings in XPO by 41.7% during the third quarter. Ethic Inc. now owns 4,738 shares of the transportation company's stock valued at $834,000 after buying an additional 1,394 shares in the last quarter. StoneX Group Inc. bought a new position in XPO during the third quarter valued at about $202,000. Pictet Asset Management Holding SA lifted its position in shares of XPO by 97.2% in the third quarter. Pictet Asset Management Holding SA now owns 157,227 shares of the transportation company's stock worth $27,669,000 after buying an additional 77,478 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of XPO by 1.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 9,071 shares of the transportation company's stock worth $1,596,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 97.73% of the company's stock.

XPO Stock Performance

Shares of NYSE XPO opened at $187.84 on Tuesday. XPO, Inc. has a 12 month low of $124.82 and a 12 month high of $232.05. The company has a market cap of $21.89 billion, a P/E ratio of 44.30, a P/E/G ratio of 1.72 and a beta of 1.87. The business's 50 day moving average is $182.93 and its two-hundred day moving average is $197.24. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.52.

XPO (NYSE:XPO - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The transportation company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.12. XPO had a return on equity of 32.80% and a net margin of 5.69%. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the prior year, the business earned $1.07 earnings per share. XPO's revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts expect that XPO, Inc. will post 5.77 EPS for the current year.

Analyst Upgrades and Downgrades

XPO has been the subject of several recent analyst reports. BMO Capital Markets reiterated an "outperform" rating on shares of XPO in a research note on Wednesday, October 7th. UBS Group cut their price objective on XPO from $257.00 to $232.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Bank of America raised their price objective on XPO from $228.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, October 2nd. Susquehanna reduced their target price on XPO from $225.00 to $194.00 and set a "neutral" rating for the company in a report on Friday, October 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $275.00 target price on shares of XPO in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, XPO currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.45.

Insiders Place Their Bets

In other news, COO David J. Bates sold 2,615 shares of the business's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $194.08, for a total transaction of $507,519.20. Following the transaction, the chief operating officer owned 59,505 shares in the company, valued at approximately $11,548,730.40. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Wismans sold 750 shares of the business's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $191.62, for a total transaction of $143,715.00. Following the transaction, the chief financial officer owned 47,216 shares in the company, valued at approximately $9,047,529.92. The trade was a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 10,095 shares of company stock valued at $1,851,171. Insiders own 0.87% of the company's stock.

About XPO

XPO Inc is a transportation company focused on less-than-truckload (LTL) shipping in North America. Its network combines freight from multiple customers into shared truckloads, serving businesses that need to ship goods too large for parcel delivery but not large enough to fill an entire trailer.

The company provides pickup and delivery, linehaul transportation between service centers, and related freight-handling services. Its operations primarily serve customers in the United States, with cross-border coverage in Canada and Mexico.

XPO traces its modern corporate history to 2011, when it began acquiring transportation and logistics businesses under the name XPO Logistics.

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