California State Teachers Retirement System Boosts Stake in XPO, Inc. $XPO

Key Points

• California State Teachers Retirement System dramatically increased its XPO stake by purchasing 34.05 million additional shares in the second quarter. It now owns 34.18 million shares, or approximately 29.19% of the company, valued at $7.02 billion.
• XPO reported strong quarterly results, with earnings of $1.70 per share versus the $1.48 consensus estimate and revenue of $2.35 billion, up 13.2% year over year.
• Despite the stock trading at $184.52, analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $224.95.

California State Teachers Retirement System boosted its position in XPO, Inc. (NYSE:XPO - Free Report) by 25,005.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,184,070 shares of the transportation company's stock after purchasing an additional 34,047,909 shares during the period. California State Teachers Retirement System owned approximately 29.19% of XPO worth $7,017,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Amundi boosted its holdings in XPO by 50.7% during the 1st quarter. Amundi now owns 5,412 shares of the transportation company's stock valued at $582,000 after acquiring an additional 1,820 shares during the period. AQR Capital Management LLC increased its stake in XPO by 7.6% in the first quarter. AQR Capital Management LLC now owns 17,654 shares of the transportation company's stock worth $1,856,000 after purchasing an additional 1,243 shares during the period. NewEdge Advisors LLC increased its stake in XPO by 3.2% in the first quarter. NewEdge Advisors LLC now owns 11,416 shares of the transportation company's stock worth $1,228,000 after purchasing an additional 355 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of XPO by 35.8% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the transportation company's stock worth $42,000 after purchasing an additional 88 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of XPO during the second quarter worth $611,000. Hedge funds and other institutional investors own 97.73% of the company's stock.

XPO Stock Down 2.9%

NYSE:XPO opened at $184.52 on Thursday. The company's 50-day simple moving average is $201.84 and its 200-day simple moving average is $204.78. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.01 and a current ratio of 1.01. XPO, Inc. has a fifty-two week low of $121.48 and a fifty-two week high of $232.05. The stock has a market capitalization of $21.61 billion, a P/E ratio of 54.43, a P/E/G ratio of 1.93 and a beta of 1.85.

XPO (NYSE:XPO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 EPS 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 during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $1.05 EPS. XPO's revenue was up 13.2% on a year-over-year basis. On average, equities analysts anticipate that XPO, Inc. will post 5.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of XPO from $208.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Raymond James Financial decreased their price objective on shares of XPO from $233.00 to $225.00 and set an "outperform" rating for the company in a report on Monday, July 13th. The Goldman Sachs Group reissued a "buy" rating and issued a $247.00 price objective on shares of XPO in a research report on Thursday, July 30th. Susquehanna upped their target price on shares of XPO from $212.00 to $214.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of XPO from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $224.95.

Insider Transactions at XPO

In other news, CAO Christopher Brown sold 3,750 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $201.94, for a total transaction of $757,275.00. Following the transaction, the chief accounting officer directly owned 31,005 shares of the company's stock, valued at approximately $6,261,149.70. This represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company's stock.

About XPO

XPO, Inc is a transportation and logistics company that provides freight-moving services to businesses in North America and Europe. Its operations are centered on less-than-truckload (LTL) transportation, which consolidates shipments from multiple customers onto individual trucks. The company serves manufacturers, retailers, wholesalers and other commercial customers through a network of terminals, drivers and freight-handling facilities.

In addition to LTL shipping, XPO provides truck brokerage and other transportation-management services, helping customers arrange freight capacity and manage the movement of goods.

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