BlackRock Inc. Purchases New Shares in XPO, Inc. $XPO

Key Points

• BlackRock acquired 14.54 million XPO shares worth approximately $2.99 billion, giving it a 12.42% stake in the transportation company. Institutional investors collectively own 97.73% of XPO.
• XPO insiders sold 7,400 shares worth about $1.53 million over the past three months, while corporate insiders retain just 0.87% of the company.
• XPO beat quarterly expectations with $1.70 EPS versus a $1.48 estimate and revenue of $2.35 billion, up 13.2% year over year. Analysts give the stock a “Moderate Buy” consensus rating with a $225.86 target, compared with a recent price of $202.92.

BlackRock Inc. acquired a new stake in shares of XPO, Inc. (NYSE:XPO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,541,751 shares of the transportation company's stock, valued at approximately $2,985,276,000. BlackRock Inc. owned approximately 12.42% of XPO at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new stake in shares of XPO in the fourth quarter valued at about $28,000. Torren Management LLC purchased a new position in XPO during the fourth quarter worth about $37,000. Horizon Investments LLC purchased a new position in XPO during the third quarter worth about $39,000. International Assets Investment Management LLC bought a new stake in XPO in the 4th quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 88 shares in the last quarter. 97.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at XPO

In other XPO news, CAO Christopher Michael Brown sold 3,750 shares of the firm's 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Allison Landry sold 2,400 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $215.61, for a total value of $517,464.00. Following the completion of the sale, the director directly owned 4,849 shares of the company's stock, valued at $1,045,492.89. This represents a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 7,400 shares of company stock valued at $1,526,502. 0.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

XPO has been the subject of several analyst reports. Zacks Research upgraded shares of XPO from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 4th. Susquehanna boosted their target price on XPO from $212.00 to $214.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on XPO from $208.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, June 8th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $247.00 price target on shares of XPO in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded XPO from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, XPO has an average rating of "Moderate Buy" and a consensus price target of $225.86.

XPO Stock Down 3.8%

XPO opened at $202.92 on Wednesday. XPO, Inc. has a twelve month low of $121.48 and a twelve month high of $232.05. The company's 50-day moving average price is $207.13 and its two-hundred day moving average price is $204.32. The stock has a market cap of $23.76 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 2.14 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.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.22. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. XPO had a net margin of 4.71% and a return on equity of 29.64%. XPO's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 EPS. As a group, equities analysts expect that XPO, Inc. will post 5.44 earnings per share for the current year.

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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