Corient Private Wealth LP Raises Stake in XPO, Inc. $XPO

Key Points

• Corient Private Wealth increased its XPO stake by 34.9% in the second quarter, while institutional investors collectively owned 97.73% of the company’s shares.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $225.82; targets from Goldman Sachs and Bernstein were $247 and $244, respectively.
• XPO reported quarterly EPS of $1.70, exceeding estimates of $1.48, while revenue rose 13.2% year over year to $2.35 billion. However, insiders sold 8,365 shares worth about $1.61 million over the past three months.

Corient Private Wealth LP increased its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 34.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,160 shares of the transportation company's stock after acquiring an additional 6,512 shares during the quarter. Corient Private Wealth LP's holdings in XPO were worth $5,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of XPO. BlackRock Inc. bought a new position in shares of XPO during the second quarter valued at approximately $2,985,276,000. MFN Partners Management LP purchased a new position in XPO during the second quarter valued at $2,026,148,865. Bessemer Group Inc. boosted its holdings in shares of XPO by 115.9% during the 1st quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company's stock valued at $470,986,000 after buying an additional 1,299,480 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of XPO by 9.7% during the 4th quarter. Clearbridge Investments LLC now owns 2,970,231 shares of the transportation company's stock valued at $403,684,000 after buying an additional 261,935 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of XPO by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,117,422 shares of the transportation company's stock worth $287,841,000 after buying an additional 22,614 shares during the period. 97.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on XPO shares. Weiss Ratings cut XPO from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. The Goldman Sachs Group reissued a "buy" rating and issued a $247.00 target price on shares of XPO in a research note on Thursday, July 30th. Evercore raised XPO from an "in-line" rating to an "outperform" rating in a research report on Wednesday, July 1st. Citizens Jmp initiated coverage on shares of XPO in a research note on Wednesday, July 15th. They issued a "market perform" rating on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of XPO in a report on Thursday, September 10th. They set an "outperform" rating and a $244.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, XPO currently has a consensus rating of "Moderate Buy" and an average target price of $225.82.

Insider Activity

In other news, CAO Christopher Brown sold 3,750 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total value 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 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 at this link. Also, COO David Bates sold 2,615 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $179.41, for a total transaction of $469,157.15. Following the completion of the transaction, the chief operating officer owned 64,735 shares in the company, valued at $11,614,106.35. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,365 shares of company stock worth $1,612,085 over the last three months. Insiders own 0.87% of the company's stock.

XPO Stock Down 0.5%

NYSE:XPO opened at $174.45 on Friday. 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, Inc. has a twelve month low of $121.48 and a twelve month high of $232.05. The company has a market cap of $20.43 billion, a PE ratio of 51.46, a P/E/G ratio of 1.79 and a beta of 1.85. The company's 50 day moving average is $197.96 and its two-hundred day moving average is $203.47.

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 analysts' consensus estimates of $1.48 by $0.22. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.28 billion. XPO had a net margin of 4.71% and a return on equity of 29.64%. The business's quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. Analysts anticipate that XPO, Inc. will post 5.42 EPS for the current year.

XPO Company Profile

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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