XPO, Inc. (NYSE:XPO) Shares Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp significantly increased its stake in XPO, Inc. by 159.4%, acquiring a total of 17,900 shares valued at approximately $1.93 million.
• Several other institutional investors also boosted their holdings in XPO, which is now largely owned by institutional investors at 97.73%.
• XPO's stock received multiple upgrades from analysts, with Citigroup and Bank of America assigning a buy rating and setting price targets as high as $150.00.

Alberta Investment Management Corp boosted its holdings in shares of XPO, Inc. (NYSE:XPO - Free Report) by 159.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,900 shares of the transportation company's stock after acquiring an additional 11,000 shares during the period. Alberta Investment Management Corp's holdings in XPO were worth $1,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XPO. Capital Research Global Investors raised its position in XPO by 18.5% during the fourth quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company's stock worth $1,789,171,000 after acquiring an additional 2,125,686 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of XPO in the fourth quarter valued at approximately $231,667,000. Capital World Investors raised its position in shares of XPO by 26.1% in the fourth quarter. Capital World Investors now owns 7,753,883 shares of the transportation company's stock valued at $1,016,923,000 after buying an additional 1,605,001 shares during the last quarter. Durable Capital Partners LP acquired a new position in shares of XPO in the fourth quarter valued at approximately $75,923,000. Finally, Natixis acquired a new position in shares of XPO in the fourth quarter valued at approximately $57,796,000. Institutional investors and hedge funds own 97.73% of the company's stock.

Analyst Upgrades and Downgrades

XPO has been the subject of a number of analyst reports. Citigroup raised shares of XPO from a "neutral" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Friday. Barclays boosted their price objective on shares of XPO from $135.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley cut their price objective on shares of XPO from $85.00 to $84.00 and set an "underweight" rating for the company in a research report on Friday. Bank of America boosted their price objective on shares of XPO from $139.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, TD Cowen cut their price objective on shares of XPO from $136.00 to $133.00 and set a "buy" rating for the company in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.00.

XPO Price Performance

XPO stock opened at $118.76 on Monday. XPO, Inc. has a 52-week low of $85.06 and a 52-week high of $161.00. The firm has a fifty day moving average of $125.52 and a 200-day moving average of $120.14. The firm has a market capitalization of $13.99 billion, a P/E ratio of 41.09, a PEG ratio of 2.33 and a beta of 1.97. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 1.88.

XPO (NYSE:XPO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The business's quarterly revenue was up .0% compared to the same quarter last year. As a group, analysts predict 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.

Want to see what other hedge funds are holding XPO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XPO, Inc. (NYSE:XPO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.