PNC Financial Services Group Inc. Raises Stock Position in XPO, Inc. (NYSE:XPO)

PNC Financial Services Group Inc. increased its position in shares of XPO, Inc. (NYSE:XPO - Free Report) by 56.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,244 shares of the transportation company's stock after buying an additional 3,680 shares during the period. PNC Financial Services Group Inc.'s holdings in XPO were worth $1,102,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in XPO. Envestnet Asset Management Inc. boosted its holdings in XPO by 8.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 106,524 shares of the transportation company's stock worth $13,971,000 after buying an additional 7,936 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in XPO by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 50,266 shares of the transportation company's stock worth $6,592,000 after buying an additional 320 shares in the last quarter. Townsquare Capital LLC boosted its holdings in XPO by 7.5% during the fourth quarter. Townsquare Capital LLC now owns 2,320 shares of the transportation company's stock worth $304,000 after buying an additional 162 shares in the last quarter. Optimize Financial Inc purchased a new stake in XPO during the fourth quarter worth $265,000. Finally, Seeds Investor LLC boosted its holdings in XPO by 33.1% during the fourth quarter. Seeds Investor LLC now owns 2,973 shares of the transportation company's stock worth $390,000 after buying an additional 739 shares in the last quarter. 97.73% of the stock is owned by hedge funds and other institutional investors.

XPO Price Performance

Shares of NYSE:XPO traded up $7.43 during midday trading on Tuesday, hitting $126.48. The company's stock had a trading volume of 1,394,502 shares, compared to its average volume of 1,232,116. The business's 50 day simple moving average is $126.22 and its 200 day simple moving average is $119.45. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.02 and a current ratio of 1.01. The company has a market cap of $14.89 billion, a P/E ratio of 43.76, a price-to-earnings-growth ratio of 2.30 and a beta of 1.97. XPO, Inc. has a 12-month low of $85.06 and a 12-month high of $161.00.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Stephens reissued an "overweight" rating and set a $131.00 price target on shares of XPO in a report on Thursday, June 5th. Evercore ISI upped their price objective on shares of XPO from $115.00 to $116.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Truist Financial upped their price objective on shares of XPO from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. UBS Group upped their price objective on shares of XPO from $123.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of XPO from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.00.

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.