Challenger Wealth Management Purchases New Position in XPO, Inc. $XPO

Key Points

• Challenger Wealth Management has acquired a $250,000 stake in XPO, Inc., purchasing 2,320 shares of the transportation stock in the first quarter of the year.
• Institutional investors now own 97.73% of XPO's stock, with several firms, including SouthState Corp and MassMutual Private Wealth & Trust, increasing their stakes significantly in the first quarter.
• XPO reported better-than-expected earnings with a Q2 EPS of $1.05, surpassing the consensus estimate of $0.99, while revenue reached $2.08 billion, beating forecasts.

Challenger Wealth Management bought a new stake in XPO, Inc. (NYSE:XPO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,320 shares of the transportation company's stock, valued at approximately $250,000.

Several other hedge funds have also made changes to their positions in the stock. SouthState Corp acquired a new stake in shares of XPO during the 1st quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of XPO by 89.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of XPO by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock valued at $52,000 after acquiring an additional 180 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of XPO by 65.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 527 shares of the transportation company's stock valued at $57,000 after acquiring an additional 209 shares in the last quarter. Finally, Archer Investment Corp acquired a new stake in shares of XPO during the 1st quarter valued at about $91,000. Institutional investors own 97.73% of the company's stock.

Insider Buying and Selling

In related news, Director Allison Landry sold 3,250 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $135.04, for a total value of $438,880.00. Following the transaction, the director owned 5,875 shares in the company, valued at approximately $793,360. This represents a 35.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on XPO. Bank of America boosted their price target on shares of XPO from $139.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. lifted their price target on shares of XPO from $121.00 to $130.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price target on shares of XPO from $144.00 to $147.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Benchmark lifted their price target on shares of XPO from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of XPO from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Nineteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $138.00.

XPO Stock Performance

Shares of XPO stock traded down $4.00 during trading on Friday, hitting $130.40. 713,840 shares of the stock were exchanged, compared to its average volume of 1,101,315. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 45.12, a price-to-earnings-growth ratio of 2.60 and a beta of 1.96. The company has a fifty day moving average price of $129.48 and a 200-day moving average price of $118.40. XPO, Inc. has a 1-year low of $85.06 and a 1-year high of $161.00. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 1.88.

XPO (NYSE:XPO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The transportation company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. XPO had a net margin of 4.32% and a return on equity of 26.48%. XPO's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. As a group, equities analysts predict that XPO, Inc. will post 4.15 EPS for the current fiscal year.

XPO Company Profile

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.