Public Employees Retirement System of Ohio Lowers Stock Position in XPO, Inc. $XPO

Key Points

• Public Employees Retirement System of Ohio reduced its XPO stake by 16.8% in the first quarter, selling 12,839 shares and retaining 63,422 shares valued at approximately $12.3 million. Institutional investors and hedge funds collectively own 97.73% of XPO.
• XPO reported quarterly EPS of $1.01, exceeding estimates of $0.89, while revenue rose 7.3% year over year to $2.10 billion. Analysts expect full-year EPS of approximately $4.91.
• XPO shares opened at $212.60, with analysts maintaining a “Moderate Buy” consensus and an average price target of $219.76; recent targets range as high as $245.

Public Employees Retirement System of Ohio cut its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 16.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,422 shares of the transportation company's stock after selling 12,839 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.05% of XPO worth $12,339,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Amundi increased its holdings in XPO by 50.7% in the 1st quarter. Amundi now owns 5,412 shares of the transportation company's stock valued at $582,000 after purchasing an additional 1,820 shares during the last quarter. AQR Capital Management LLC lifted its stake in XPO by 7.6% during the first quarter. AQR Capital Management LLC now owns 17,654 shares of the transportation company's stock worth $1,856,000 after purchasing an additional 1,243 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of XPO by 3.2% during the first quarter. NewEdge Advisors LLC now owns 11,416 shares of the transportation company's stock worth $1,228,000 after buying an additional 355 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of XPO by 35.8% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the transportation company's stock worth $42,000 after buying an additional 88 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of XPO in the second quarter valued at $611,000. 97.73% of the stock is currently owned by institutional investors and hedge funds.

XPO Stock Down 0.2%

XPO stock opened at $212.60 on Monday. The company's 50 day moving average price is $210.31 and its 200 day moving average price is $197.69. The firm has a market capitalization of $24.96 billion, a price-to-earnings ratio of 72.81, a PEG ratio of 2.44 and a beta of 1.85. XPO, Inc. has a fifty-two week low of $116.68 and a fifty-two week high of $232.05. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99.

XPO (NYSE:XPO - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.89 by $0.12. The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.04 billion. XPO had a net margin of 4.19% and a return on equity of 26.21%. The firm's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 EPS. On average, equities research analysts anticipate that XPO, Inc. will post 4.91 EPS for the current fiscal year.

Insider Transactions at XPO

In other XPO news, Director Allison Landry sold 2,400 shares of XPO stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $215.61, for a total transaction of $517,464.00. Following the completion of the sale, the director directly owned 4,849 shares of the company's stock, valued at $1,045,492.89. The trade was a 33.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial set a $240.00 price objective on XPO in a report on Friday, May 1st. Citizens Jmp assumed coverage on XPO in a research report on Wednesday, July 15th. They issued a "market perform" rating for the company. BMO Capital Markets boosted their price target on shares of XPO from $240.00 to $245.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. Oppenheimer increased their price target on shares of XPO from $228.00 to $236.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Finally, Stephens raised shares of XPO to a "strong-buy" rating in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $219.76.

About XPO

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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