PCJ Investment Counsel Ltd. Has $1.13 Million Stake in XPO, Inc. (NYSE:XPO)

Key Points

• PCJ Investment Counsel Ltd. has reduced its stake in XPO, Inc. by 62.1%, now holding 10,500 shares valued at approximately $1.13 million.
• Significant increases in holdings were seen from other institutional investors, with Renaissance Technologies boosting its stake by 40.0% and Teacher Retirement System of Texas increasing its ownership by 50.9%.
• XPO reported earnings of $1.05 per share for the last quarter, surpassing analyst expectations, along with a revenue of $2.08 billion, which exceeded forecasts of $2.05 billion.

PCJ Investment Counsel Ltd. reduced its stake in XPO, Inc. (NYSE:XPO - Free Report) by 62.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,500 shares of the transportation company's stock after selling 17,240 shares during the quarter. PCJ Investment Counsel Ltd.'s holdings in XPO were worth $1,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in XPO by 40.0% in the 4th quarter. Renaissance Technologies LLC now owns 237,420 shares of the transportation company's stock worth $31,138,000 after purchasing an additional 67,800 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in XPO in the 1st quarter worth approximately $247,000. Allspring Global Investments Holdings LLC lifted its holdings in XPO by 14.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,632 shares of the transportation company's stock worth $2,689,000 after purchasing an additional 3,057 shares during the last quarter. Invesco Ltd. lifted its holdings in XPO by 29.6% in the 4th quarter. Invesco Ltd. now owns 1,863,278 shares of the transportation company's stock worth $244,369,000 after purchasing an additional 425,678 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in XPO by 50.9% in the 1st quarter. Teacher Retirement System of Texas now owns 21,454 shares of the transportation company's stock worth $2,308,000 after purchasing an additional 7,237 shares during the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stephens reaffirmed an "overweight" rating and issued a $131.00 price target on shares of XPO in a research report on Thursday, June 5th. Truist Financial lifted their price target on XPO from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Morgan Stanley dropped their price target on XPO from $85.00 to $84.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. Stifel Nicolaus dropped their price target on XPO from $145.00 to $136.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Barclays lifted their price target on XPO from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, XPO currently has a consensus rating of "Moderate Buy" and an average price target of $138.00.

XPO Trading Down 2.1%

Shares of XPO opened at $120.41 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 1.88. XPO, Inc. has a 12-month low of $85.06 and a 12-month high of $161.00. The firm has a market capitalization of $14.18 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 2.38 and a beta of 1.97. The stock's fifty day simple moving average is $125.75 and its 200-day simple moving average is $119.91.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. XPO had a return on equity of 26.48% and a net margin of 4.32%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The firm's revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts predict that XPO, Inc. will post 4.15 earnings per share for the current year.

XPO Company 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.

Want to see what other hedge funds are holding XPO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XPO, Inc. (NYSE:XPO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.