Bank of New York Mellon Corp Invests $151.80 Million in XPO, Inc. $XPO

Bank of New York Mellon Corp acquired a new position in XPO, Inc. (NYSE:XPO - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 739,431 shares of the transportation company's stock, valued at approximately $151,798,000. Bank of New York Mellon Corp owned 0.63% of XPO at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Elyxium Wealth LLC acquired a new stake in XPO in the 4th quarter valued at $28,000. Torren Management LLC bought a new position in XPO during the 4th quarter valued at $37,000. Horizon Investments LLC bought a new position in XPO during the third quarter worth $39,000. International Assets Investment Management LLC acquired a new position in XPO in the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of XPO by 35.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the transportation company's stock worth $42,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 97.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on XPO. JPMorgan Chase & Co. lifted their target price on XPO from $208.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, June 8th. The Goldman Sachs Group reissued a "buy" rating and issued a $247.00 target price on shares of XPO in a research report on Thursday, July 30th. Truist Financial set a $240.00 price target on shares of XPO in a report on Friday, May 1st. UBS Group lifted their price target on XPO from $236.00 to $257.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, TD Cowen increased their target price on shares of XPO from $224.00 to $228.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Two equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat, XPO has a consensus rating of "Moderate Buy" and an average price target of $225.86.

XPO Stock Performance

NYSE:XPO opened at $198.74 on Monday. The firm has a market capitalization of $23.27 billion, a PE ratio of 58.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average price of $205.54 and a 200 day moving average price of $205.25. XPO, Inc. has a 12-month low of $121.48 and a 12-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 net margin of 4.71% and a return on equity of 29.64%. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The company's quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts anticipate that XPO, Inc. will post 5.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other XPO news, Director Allison Landry sold 2,400 shares of the company'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 completion of the sale, the director owned 4,849 shares in the company, valued at approximately $1,045,492.89. The trade was a 33.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Michael Brown sold 3,750 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total transaction of $757,275.00. Following the transaction, the chief accounting officer owned 31,005 shares of the company's stock, valued at approximately $6,261,149.70. This represents a 10.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,400 shares of company stock valued at $1,526,502 in the last ninety days. Company insiders own 0.87% of the company's stock.

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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