Bank of New York Mellon Corp Sells 9,074 Shares of XPO, Inc. $XPO

Key Points

• Bank of New York Mellon trimmed its XPO stake by 1.3% in the fourth quarter, selling 9,074 shares and leaving it with 710,580 shares valued at about $96.6 million.
• XPO reported better-than-expected first-quarter results, posting $1.01 EPS on revenue of $2.10 billion, both above analyst estimates, with revenue up 7.3% year over year.
• Analyst sentiment remains positive, with several firms raising price targets and the stock holding a consensus rating of “Moderate Buy” with an average target price of $217.38.

Bank of New York Mellon Corp cut its holdings in XPO, Inc. (NYSE:XPO - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 710,580 shares of the transportation company's stock after selling 9,074 shares during the period. Bank of New York Mellon Corp owned about 0.61% of XPO worth $96,575,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its position in shares of XPO by 77.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 554,245 shares of the transportation company's stock worth $75,327,000 after acquiring an additional 241,890 shares during the period. Natixis Advisors LLC lifted its holdings in shares of XPO by 33.4% during the 4th quarter. Natixis Advisors LLC now owns 49,839 shares of the transportation company's stock valued at $6,774,000 after purchasing an additional 12,472 shares during the last quarter. AXQ Capital LP acquired a new stake in XPO in the fourth quarter worth about $1,028,000. Essex Financial Services Inc. boosted its stake in XPO by 10.5% in the 4th quarter. Essex Financial Services Inc. now owns 3,075 shares of the transportation company's stock worth $418,000 after purchasing an additional 293 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of XPO by 28.4% during the fourth quarter. BNP Paribas Financial Markets now owns 439,175 shares of the transportation company's stock valued at $59,688,000 after buying an additional 97,163 shares during the last quarter. Institutional investors own 97.73% of the company's stock.

Insider Buying and Selling at XPO

In related news, Director Allison Landry sold 2,400 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $215.61, for a total value of $517,464.00. Following the transaction, the director directly owned 4,849 shares of the company's stock, valued at $1,045,492.89. This trade represents a 33.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.87% of the company's stock.

XPO Price Performance

XPO stock opened at $224.85 on Tuesday. The business's 50-day moving average is $210.55 and its two-hundred day moving average is $181.17. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $26.40 billion, a P/E ratio of 77.00, a P/E/G ratio of 2.55 and a beta of 1.83. XPO, Inc. has a 1 year low of $116.68 and a 1 year high of $231.46.

XPO (NYSE:XPO - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.12. XPO had a net margin of 4.19% and a return on equity of 26.21%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm posted $0.73 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. Analysts anticipate that XPO, Inc. will post 4.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on XPO shares. JPMorgan Chase & Co. raised their price target on shares of XPO from $208.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday. Zacks Research upgraded XPO from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 4th. TD Cowen lifted their price objective on XPO from $192.00 to $224.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Benchmark increased their target price on shares of XPO from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company boosted their price objective on XPO from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, XPO currently has an average rating of "Moderate Buy" and a consensus price target of $217.38.

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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