State of New Jersey Common Pension Fund D Sells 3,487 Shares of XPO, Inc. $XPO

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in XPO, Inc. by 8.1%, retaining 39,697 shares, valued at approximately $4.27 million.
• XPO has been positively received by analysts, with several firms raising their target prices, including JPMorgan Chase, which increased it from $121 to $130.
• XPO's recent quarterly earnings showed an EPS of $1.05, exceeding expectations, and the company anticipates a full-year EPS of 4.15.

State of New Jersey Common Pension Fund D trimmed its stake in XPO, Inc. (NYSE:XPO - Free Report) by 8.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,697 shares of the transportation company's stock after selling 3,487 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in XPO were worth $4,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in XPO. T. Rowe Price Investment Management Inc. bought a new position in XPO during the fourth quarter valued at approximately $231,667,000. Durable Capital Partners LP bought a new position in shares of XPO in the fourth quarter valued at approximately $75,923,000. Nuveen LLC bought a new position in shares of XPO in the first quarter valued at approximately $33,965,000. Northern Trust Corp raised its position in shares of XPO by 24.2% in the fourth quarter. Northern Trust Corp now owns 1,008,124 shares of the transportation company's stock valued at $132,215,000 after purchasing an additional 196,360 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of XPO by 16,790.6% in the first quarter. GAMMA Investing LLC now owns 191,708 shares of the transportation company's stock valued at $20,624,000 after purchasing an additional 190,573 shares during the period. 97.73% of the stock is owned by hedge funds and other institutional investors.

XPO Stock Performance

XPO traded up $9.4840 during trading on Friday, reaching $137.4040. 1,996,689 shares of the company's stock were exchanged, compared to its average volume of 1,295,165. XPO, Inc. has a fifty-two week low of $85.06 and a fifty-two week 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 business has a 50 day moving average price of $127.85 and a 200 day moving average price of $119.26. The company has a market capitalization of $16.18 billion, a P/E ratio of 47.54, a PEG ratio of 2.47 and a beta of 1.97.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on XPO shares. Oppenheimer lifted their price target on shares of XPO from $126.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, July 7th. Citigroup upgraded shares of XPO from a "neutral" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Friday, August 1st. Barclays raised their price objective on shares of XPO from $135.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. TD Cowen lowered their price objective on shares of XPO from $136.00 to $133.00 and set a "buy" rating on the stock in a research note on Friday, June 27th. Finally, Benchmark raised their price objective on shares of XPO from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Nineteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, XPO has an average 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.