Formula Growth Ltd. acquired a new stake in shares of XPO, Inc. (NYSE:XPO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,000 shares of the transportation company's stock, valued at approximately $4,722,000. XPO accounts for about 1.7% of Formula Growth Ltd.'s investment portfolio, making the stock its 8th largest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in XPO during the 2nd quarter valued at $1,232,000. Public Employees Retirement System of Ohio bought a new position in shares of XPO during the 2nd quarter valued at $12,742,000. Transamerica Financial Advisors LLC purchased a new position in shares of XPO in the 2nd quarter worth $32,000. Corient Private Wealth LP purchased a new position in shares of XPO in the 2nd quarter worth $4,962,000. Finally, Parallax Volatility Advisers L.P. bought a new stake in shares of XPO in the second quarter worth $1,487,000. Hedge funds and other institutional investors own 97.73% of the company's stock.
Insider Transactions at XPO
In other XPO news, CAO Christopher Michael Brown sold 3,750 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $201.94, for a total value of $757,275.00. Following the completion of the sale, the chief accounting officer owned 31,005 shares in the company, valued at $6,261,149.70. This represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.87% of the company's stock.
XPO Trading Down 0.4%
Shares of XPO stock opened at $191.76 on Friday. XPO, Inc. has a 1 year low of $121.48 and a 1 year high of $232.05. The firm has a fifty day moving average price of $204.21 and a 200-day moving average price of $205.47. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $22.45 billion, a price-to-earnings ratio of 56.57, a PEG ratio of 1.95 and a beta of 1.85.
XPO (NYSE:XPO - Get Free Report) last announced its earnings results on Thursday, July 30th. The transportation company reported $1.70 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.28 billion. During the same period last year, the firm earned $1.05 EPS. XPO's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, equities analysts predict that XPO, Inc. will post 5.44 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms recently commented on XPO. Citizens Jmp initiated coverage on XPO in a research report on Wednesday, July 15th. They set a "market perform" rating for the company. Bank of America raised their target price on XPO from $244.00 to $246.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. UBS Group boosted their price target on XPO from $236.00 to $257.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Raymond James Financial reduced their price target on shares of XPO from $233.00 to $225.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Finally, Zacks Research raised shares of XPO from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, XPO currently has a consensus rating of "Moderate Buy" and an average target price of $225.86.
View Our Latest Stock Analysis on XPO
XPO Company Profile
(
Free Report)
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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