Corebridge Financial Inc. Has $14.07 Million Stake in XPO, Inc. $XPO

Key Points

• Corebridge Financial Inc. reduced its stake in XPO, Inc. by 1.7% in the first quarter, holding 130,741 shares valued at approximately $14.07 million.
• The stock price of XPO, Inc. opened at $136.50, with a market cap of $16.07 billion and a P/E ratio of 47.23.
• XPO reported earnings of $1.05 per share for the last quarter, exceeding analysts’ expectations of $0.99, and had a revenue of $2.08 billion against a forecast of $2.05 billion.

Corebridge Financial Inc. decreased its position in XPO, Inc. (NYSE:XPO - Free Report) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,741 shares of the transportation company's stock after selling 2,270 shares during the quarter. Corebridge Financial Inc. owned 0.11% of XPO worth $14,065,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Coldstream Capital Management Inc. increased its position in shares of XPO by 4.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,340 shares of the transportation company's stock valued at $307,000 after purchasing an additional 101 shares during the last quarter. Northern Trust Corp increased its stake in XPO by 24.2% in the fourth quarter. Northern Trust Corp now owns 1,008,124 shares of the transportation company's stock valued at $132,215,000 after purchasing an additional 196,360 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of XPO by 397.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 75,846 shares of the transportation company's stock valued at $9,947,000 after buying an additional 101,331 shares during the last quarter. Utah Retirement Systems grew its position in shares of XPO by 1.6% in the 4th quarter. Utah Retirement Systems now owns 6,193 shares of the transportation company's stock valued at $812,000 after buying an additional 100 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of XPO by 9.4% during the fourth quarter. Comerica Bank now owns 56,607 shares of the transportation company's stock worth $7,424,000 after purchasing an additional 4,882 shares during the last quarter. Hedge funds and other institutional investors own 97.73% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on XPO shares. Morgan Stanley lowered their price objective on shares of XPO from $85.00 to $84.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. Benchmark boosted their price target on XPO from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer upped their price target on shares of XPO from $126.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, July 7th. Truist Financial increased their target price on XPO from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Finally, UBS Group raised their price target on shares of XPO from $123.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Nineteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, XPO presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.00.

XPO Stock Performance

Shares of NYSE:XPO traded down $0.45 during trading on Friday, hitting $129.70. 1,023,019 shares of the company traded hands, compared to its average volume of 1,210,954. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 2.51 and a beta of 1.97. The business's fifty day moving average is $129.03 and its 200-day moving average is $118.83. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 1.88. XPO, Inc. has a one year low of $85.06 and a one year high of $161.00.

XPO (NYSE:XPO - Get Free Report) last announced its earnings results on Thursday, July 31st. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.06. The firm had revenue of $2.08 billion during 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 was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, equities analysts predict that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

About XPO

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.