Corient Private Wealth LP Acquires New Shares in XPO, Inc. $XPO

Key Points

• Corient Private Wealth acquired 24,171 XPO shares worth approximately $4.96 million during the second quarter. Institutional investors collectively own 97.73% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $225.86; several firms recently raised their targets, while Citigroup downgraded the stock to neutral.
• XPO exceeded quarterly expectations, reporting $1.70 in EPS versus the $1.48 consensus and $2.35 billion in revenue, up 13.2% year over year. Shares opened at $194.30, below their 50-day and 200-day moving averages.

Corient Private Wealth LP bought a new position in XPO, Inc. (NYSE:XPO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,171 shares of the transportation company's stock, valued at approximately $4,962,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallax Volatility Advisers L.P. bought a new stake in shares of XPO in the 2nd quarter valued at approximately $1,487,000. Perennial Investment Advisors LLC bought a new position in XPO during the second quarter valued at approximately $562,000. Bank of America Corp DE acquired a new stake in XPO in the second quarter valued at approximately $81,859,000. Freestone Grove Partners LP bought a new stake in XPO in the second quarter worth approximately $42,738,000. Finally, Odyssean LLC bought a new stake in XPO in the second quarter worth approximately $1,102,000. 97.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

XPO has been the topic of a number of recent research reports. Bank of America raised their price target on shares of XPO from $244.00 to $246.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Zacks Research raised shares of XPO from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 4th. Stifel Nicolaus increased their target price on shares of XPO from $237.00 to $241.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Citigroup cut their target price on XPO from $226.00 to $221.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Finally, Susquehanna boosted their price target on XPO from $212.00 to $214.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $225.86.

XPO Trading Up 3.0%

Shares of XPO stock opened at $194.30 on Tuesday. The firm has a market capitalization of $22.75 billion, a P/E ratio of 57.32, a price-to-earnings-growth ratio of 1.91 and a beta of 1.85. XPO, Inc. has a 1 year low of $121.48 and a 1 year high of $232.05. The firm's fifty day simple moving average is $203.86 and its 200 day simple moving average is $205.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55.

XPO (NYSE:XPO - Get Free Report) last posted 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. XPO had a net margin of 4.71% and a return on equity of 29.64%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the business posted $1.05 EPS. The business's quarterly revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts predict that XPO, Inc. will post 5.44 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Christopher Michael Brown sold 3,750 shares of the business's stock in a transaction dated 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 in the company, valued at $6,261,149.70. The trade was a 10.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.87% of the stock is currently owned by company insiders.

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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