XPO, Inc. (NYSE:XPO) Shares Sold by PCJ Investment Counsel Ltd.

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

Other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of XPO by 89.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. Parallel Advisors LLC raised its holdings in XPO by 58.8% in the first quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock worth $52,000 after buying an additional 180 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in XPO by 65.7% in the first quarter. Cullen Frost Bankers Inc. now owns 527 shares of the transportation company's stock worth $57,000 after buying an additional 209 shares during the last quarter. Archer Investment Corp purchased a new position in XPO in the first quarter worth about $91,000. Finally, UMB Bank n.a. raised its holdings in shares of XPO by 97.4% during the first quarter. UMB Bank n.a. now owns 1,062 shares of the transportation company's stock valued at $114,000 after purchasing an additional 524 shares during the last quarter. Institutional investors own 97.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on XPO shares. Truist Financial boosted their price objective on shares of XPO from $125.00 to $135.00 and gave the company a "buy" rating in a report on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on shares of XPO from $121.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. TD Cowen dropped their target price on shares of XPO from $136.00 to $133.00 and set a "buy" rating for the company in a research report on Friday, June 27th. UBS Group upped their price target on shares of XPO from $123.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Citigroup raised shares of XPO from a "neutral" rating to a "buy" rating and set a $140.00 target price on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, XPO presently has an average rating of "Moderate Buy" and an average price target of $138.00.

XPO Stock Performance

Shares of XPO stock traded up $7.07 during midday trading on Tuesday, hitting $126.12. The company had a trading volume of 562,141 shares, compared to its average volume of 1,610,734. XPO, Inc. has a 12-month low of $85.06 and a 12-month high of $161.00. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 1.88. The stock has a market cap of $14.85 billion, a price-to-earnings ratio of 43.57, a PEG ratio of 2.32 and a beta of 1.97. The company has a fifty day simple moving average of $126.00 and a 200 day simple moving average of $119.40.

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

About XPO

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.