Douglas Lane & Associates LLC Decreases Stake in XPO, Inc. $XPO

Key Points

• Douglas Lane & Associates reduced its XPO stake by 5.1% in the third quarter, selling 11,230 shares and retaining 208,920 shares worth approximately $36.8 million. Institutional investors collectively own 97.73% of XPO.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $223.55. Recent targets ranged from $230 to $257.
• XPO reported quarterly earnings of $1.70 per share, beating estimates of $1.48, while revenue rose 13.2% year over year to $2.35 billion. The stock recently traded at $181.46, down 0.3%.

Douglas Lane & Associates LLC cut its holdings in XPO, Inc. (NYSE:XPO - Free Report) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 208,920 shares of the transportation company's stock after selling 11,230 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.18% of XPO worth $36,766,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. National Pension Service bought a new position in XPO during the second quarter worth about $37,695,000. Renaissance Technologies LLC boosted its stake in XPO by 73.3% during the 1st quarter. Renaissance Technologies LLC now owns 178,720 shares of the transportation company's stock worth $34,770,000 after acquiring an additional 75,600 shares during the last quarter. Border to Coast Pensions Partnership Ltd acquired a new position in XPO during the first quarter valued at approximately $36,048,000. K.J. Harrison & Partners Inc bought a new position in shares of XPO during the second quarter worth $4,927,000. Finally, MFN Partners Management LP acquired a new position in shares of XPO in the 2nd quarter valued at $2,026,148,865. 97.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group upped their price objective on shares of XPO from $236.00 to $257.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. BMO Capital Markets reissued an "outperform" rating on shares of XPO in a research note on Wednesday. Bank of America increased their price target on XPO from $228.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, October 2nd. Evercore raised XPO from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. Finally, Oppenheimer lifted their price target on shares of XPO from $236.00 to $238.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $223.55.

XPO Stock Down 0.3%

XPO stock traded down $0.49 during mid-day trading on Friday, reaching $181.46. The company's stock had a trading volume of 241,448 shares, compared to its average volume of 1,421,970. 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 12 month low of $121.48 and a 12 month high of $232.05. The business's 50 day simple moving average is $189.37 and its 200 day simple moving average is $202.01. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 53.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.85.

XPO (NYSE:XPO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.22. XPO had a return on equity of 29.64% and a net margin of 4.71%.The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the company earned $1.05 EPS. XPO's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, research analysts anticipate that XPO, Inc. will post 5.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Kyle Wismans sold 750 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $175.47, for a total value of $131,602.50. Following the completion of the sale, the chief financial officer owned 47,966 shares of the company's stock, valued at approximately $8,416,594.02. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christopher Brown sold 3,750 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total transaction of $757,275.00. Following the completion of the transaction, the chief accounting officer directly owned 31,005 shares of the company's stock, valued at $6,261,149.70. This represents a 10.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,730 shares of company stock valued at $2,208,974 in the last 90 days. 0.87% of the stock is currently owned by insiders.

XPO Company Profile

XPO, Inc is a transportation and logistics company that provides freight services to businesses in North America and Europe. Its primary business is less-than-truckload (LTL) transportation, which consolidates shipments from multiple customers onto individual trailers. The company serves manufacturers, retailers, distributors and other commercial customers.

XPO's services include regional, interregional and cross-border LTL transportation, freight pickup and delivery, shipment tracking, and related supply chain solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.