Fifth Third Bancorp Buys 32,793 Shares of XPO, Inc. $XPO

Key Points

• Fifth Third Bancorp dramatically increased its XPO stake in the first quarter, buying 32,793 additional shares and lifting its position by 3,005.8% to 33,884 shares worth about $6.59 million.
• XPO reported stronger-than-expected quarterly results, posting EPS of $1.01 versus the $0.89 consensus and revenue of $2.10 billion, up 7.3% from a year earlier.
• Wall Street remains broadly positive on XPO, with multiple analysts raising price targets and the stock carrying a consensus rating of “Moderate Buy.”

Fifth Third Bancorp grew its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 3,005.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,884 shares of the transportation company's stock after buying an additional 32,793 shares during the period. Fifth Third Bancorp's holdings in XPO were worth $6,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of XPO. Invesco Ltd. boosted its stake in XPO by 19.8% during the 3rd quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company's stock worth $810,249,000 after acquiring an additional 1,036,434 shares during the last quarter. Durable Capital Partners LP increased its position in shares of XPO by 20.5% during the third quarter. Durable Capital Partners LP now owns 4,331,280 shares of the transportation company's stock worth $559,905,000 after acquiring an additional 736,224 shares in the last quarter. Orbis Allan Gray Ltd raised its stake in shares of XPO by 15.8% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company's stock valued at $496,423,000 after purchasing an additional 499,220 shares during the period. Clearbridge Investments LLC raised its position in XPO by 9.7% in 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of XPO by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,117,422 shares of the transportation company's stock valued at $287,841,000 after purchasing an additional 22,614 shares during the last quarter. 97.73% of the stock is owned by institutional investors.

XPO Stock Performance

Shares of XPO opened at $219.46 on Friday. The firm has a 50-day moving average of $208.88 and a 200-day moving average of $194.54. XPO, Inc. has a one year low of $116.68 and a one year high of $232.05. The company has a market cap of $25.77 billion, a PE ratio of 75.16, a price-to-earnings-growth ratio of 2.36 and a beta of 1.85. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99.

XPO (NYSE:XPO - Get Free Report) last issued its earnings results on Thursday, April 30th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.12. XPO had a net margin of 4.19% and a return on equity of 26.21%. The company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the firm earned $0.73 EPS. XPO's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that XPO, Inc. will post 4.9 earnings per share for the current year.

Insiders Place Their Bets

In other XPO news, Director Allison Landry sold 2,400 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $215.61, for a total transaction of $517,464.00. Following the transaction, the director owned 4,849 shares of the company's stock, valued at $1,045,492.89. The trade was a 33.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on XPO shares. Oppenheimer boosted their price target on shares of XPO from $228.00 to $236.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Bank of America lifted their target price on XPO from $244.00 to $246.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Barclays upped their target price on XPO from $195.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Evercore raised XPO from an "in-line" rating to an "outperform" rating in a research report on Wednesday, July 1st. Finally, Truist Financial set a $240.00 price target on XPO in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $219.57.

XPO Company Profile

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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