Thornburg Investment Management Inc. Cuts Position in XPO, Inc. (NYSE:XPO)

Key Points

• Thornburg Investment Management Inc. sold 7,379 shares of XPO, Inc., reducing its stake by 7.2% in the first quarter, retaining about 0.08% of the company valued at $10.27 million.
• Multiple large investors have increased their holdings in XPO, with 97.73% of the stock now owned by institutional investors and hedge funds.
• XPO's stock currently has a consensus rating of "Moderate Buy" from analysts, with a price target averaging $141.16, reflecting positive sentiment in the market.

Thornburg Investment Management Inc. reduced its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 7.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,498 shares of the transportation company's stock after selling 7,379 shares during the quarter. Thornburg Investment Management Inc. owned about 0.08% of XPO worth $10,274,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of XPO by 89.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock valued at $26,000 after buying an additional 113 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of XPO by 58.8% during the first quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock valued at $52,000 after buying an additional 180 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of XPO by 65.7% during the first quarter. Cullen Frost Bankers Inc. now owns 527 shares of the transportation company's stock valued at $57,000 after buying an additional 209 shares during the last quarter. Archer Investment Corp bought a new position in shares of XPO during the first quarter valued at approximately $91,000. Finally, UMB Bank n.a. grew its stake 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 buying an additional 524 shares during the last quarter. Institutional investors own 97.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stephens reaffirmed an "overweight" rating and set a $131.00 target price on shares of XPO in a research note on Thursday, June 5th. Raymond James Financial dropped their price objective on XPO from $165.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Oppenheimer increased their price objective on XPO from $126.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, July 7th. UBS Group increased their price objective on XPO from $123.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company increased their price objective on XPO from $144.00 to $147.00 and gave the stock an "overweight" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.00.

XPO Stock Performance

XPO stock traded down $1.53 during midday trading on Friday, reaching $118.76. The stock had a trading volume of 2,046,588 shares, compared to its average volume of 1,642,991. The stock has a market cap of $13.99 billion, a PE ratio of 36.54, a P/E/G ratio of 2.56 and a beta of 1.93. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day simple moving average of $125.48 and a two-hundred day simple moving average of $120.49. XPO, Inc. has a 52-week low of $85.06 and a 52-week 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 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 return on equity of 28.27% and a net margin of 4.87%. The firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. As a group, equities research analysts anticipate that XPO, Inc. will post 4.15 EPS for the current 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.