Pallas Capital Advisors LLC Sells 24,516 Shares of XPO, Inc. (NYSE:XPO)

Pallas Capital Advisors LLC lessened its holdings in XPO, Inc. (NYSE:XPO - Free Report) by 89.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,918 shares of the transportation company's stock after selling 24,516 shares during the quarter. Pallas Capital Advisors LLC's holdings in XPO were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in XPO. Capital Research Global Investors boosted its holdings in shares of XPO by 18.5% during the fourth quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company's stock valued at $1,789,171,000 after acquiring an additional 2,125,686 shares during the period. Vanguard Group Inc. raised its stake in shares of XPO by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,034,926 shares of the transportation company's stock valued at $1,447,231,000 after purchasing an additional 79,393 shares in the last quarter. Capital World Investors raised its stake in shares of XPO by 26.1% during the fourth quarter. Capital World Investors now owns 7,753,883 shares of the transportation company's stock valued at $1,016,923,000 after purchasing an additional 1,605,001 shares in the last quarter. FMR LLC raised its stake in shares of XPO by 3.6% during the fourth quarter. FMR LLC now owns 2,606,265 shares of the transportation company's stock valued at $341,812,000 after purchasing an additional 91,252 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of XPO by 29.6% during the fourth quarter. Invesco Ltd. now owns 1,863,278 shares of the transportation company's stock valued at $244,369,000 after purchasing an additional 425,678 shares in the last quarter. Institutional investors and hedge funds own 97.73% of the company's stock.

XPO Price Performance

Shares of XPO traded down $1.97 during trading hours on Friday, hitting $120.27. The stock had a trading volume of 1,038,701 shares, compared to its average volume of 1,633,375. The company's fifty day moving average is $110.77 and its two-hundred day moving average is $124.01. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.06 and a quick ratio of 1.06. XPO, Inc. has a 52 week low of $85.06 and a 52 week high of $161.00. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of 1.79 and a beta of 1.92.

XPO (NYSE:XPO - Get Free Report) last posted its earnings results on Wednesday, April 30th. The transportation company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. XPO had a net margin of 4.81% and a return on equity of 30.36%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts anticipate that XPO, Inc. will post 4.15 EPS for the current year.

XPO announced that its board has authorized a stock buyback program on Thursday, March 27th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 5.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on XPO. Vertical Research upgraded shares of XPO from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Thursday, March 6th. UBS Group lifted their price objective on shares of XPO from $108.00 to $123.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Citigroup cut their price target on shares of XPO from $148.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Truist Financial lowered their price objective on shares of XPO from $130.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $140.00 target price (up from $135.00) on shares of XPO in a research note on Tuesday. Nineteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $134.89.

XPO Profile

XPO, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.