Renaissance Technologies LLC Buys 75,600 Shares of XPO, Inc. $XPO

Key Points

• Renaissance Technologies increased its XPO stake by 73.3% in the first quarter, buying 75,600 additional shares for a total of 178,720 shares valued at approximately $34.8 million. Institutional investors collectively own 97.73% of XPO’s outstanding stock.
• Analysts maintain a generally positive outlook, with XPO holding a consensus “Moderate Buy” rating and an average price target of $219.76. Recent recommendations included JPMorgan’s upgraded $210 target and Raymond James’ reduced target of $225, both with favorable ratings.
• XPO’s latest quarterly results exceeded expectations, with adjusted earnings of $1.01 per share versus the $0.89 consensus estimate and revenue of $2.10 billion. Revenue rose 7.3% year over year, while shares recently opened at $204.68, down 1.7%.

Renaissance Technologies LLC grew its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 73.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 178,720 shares of the transportation company's stock after purchasing an additional 75,600 shares during the period. Renaissance Technologies LLC owned approximately 0.15% of XPO worth $34,770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Border to Coast Pensions Partnership Ltd purchased a new position in XPO during the first quarter valued at $36,048,000. Econ Financial Services Corp purchased a new stake in shares of XPO in the 4th quarter worth about $1,837,000. Calamos Advisors LLC increased its stake in shares of XPO by 247.8% in the 4th quarter. Calamos Advisors LLC now owns 13,973 shares of the transportation company's stock worth $1,899,000 after acquiring an additional 9,956 shares in the last quarter. K.J. Harrison & Partners Inc increased its stake in shares of XPO by 460.0% in the 4th quarter. K.J. Harrison & Partners Inc now owns 28,000 shares of the transportation company's stock worth $3,805,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in XPO by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 716,747 shares of the transportation company's stock valued at $139,443,000 after acquiring an additional 6,167 shares during the period. Hedge funds and other institutional investors own 97.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on XPO shares. Citizens Jmp assumed coverage on XPO in a research report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Citigroup began coverage on shares of XPO in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of XPO from $208.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Truist Financial set a $240.00 target price on shares of XPO in a report on Friday, May 1st. Finally, Raymond James Financial cut their price target on shares of XPO from $233.00 to $225.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $219.76.

Insider Transactions at XPO

In other news, Director Allison Landry sold 2,400 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $215.61, for a total transaction of $517,464.00. Following the sale, the director owned 4,849 shares of the company's stock, valued at $1,045,492.89. This trade represents a 33.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.87% of the company's stock.

XPO Trading Down 1.7%

Shares of NYSE:XPO opened at $204.68 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. XPO, Inc. has a 1 year low of $116.68 and a 1 year high of $232.05. The company has a market cap of $24.03 billion, a P/E ratio of 70.10, a PEG ratio of 2.39 and a beta of 1.85. The stock's fifty day moving average price is $210.53 and its 200-day moving average price is $198.53.

XPO (NYSE:XPO - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.89 by $0.12. XPO had a return on equity of 26.21% and a net margin of 4.19%.The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the company earned $0.73 EPS. XPO's revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts expect that XPO, Inc. will post 4.91 earnings per share for the current year.

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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