Alberta Investment Management Corp Increases Stake in XPO, Inc. (NYSE:XPO)

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

Several other large investors also recently added to or reduced their stakes in XPO. MassMutual Private Wealth & Trust FSB increased its holdings in XPO by 89.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock worth $26,000 after acquiring an additional 113 shares during the last quarter. Parallel Advisors LLC boosted its stake in XPO by 58.8% in the 1st quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock worth $52,000 after purchasing an additional 180 shares during the period. Cullen Frost Bankers Inc. boosted its stake in XPO by 65.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 527 shares of the transportation company's stock worth $57,000 after purchasing an additional 209 shares during the period. Archer Investment Corp bought a new position in XPO in the 1st quarter worth about $91,000. Finally, UMB Bank n.a. boosted its stake in XPO by 97.4% in the 1st quarter. UMB Bank n.a. now owns 1,062 shares of the transportation company's stock worth $114,000 after purchasing an additional 524 shares during the period. Hedge funds and other institutional investors own 97.73% of the company's stock.

XPO Price Performance

Shares of NYSE XPO traded up $0.18 during trading hours on Friday, reaching $120.56. 518,297 shares of the stock traded hands, compared to its average volume of 1,620,105. 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 company's 50-day simple moving average is $125.75 and its two-hundred day simple moving average is $119.91. The company has a market capitalization of $14.20 billion, a P/E ratio of 41.68, a price-to-earnings-growth ratio of 2.38 and a beta of 1.97. 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 announced its quarterly earnings results on Thursday, July 31st. The transportation company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. The business had revenue of $2.08 billion for 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 quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. Equities research analysts forecast that XPO, Inc. will post 4.15 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on XPO. Morgan Stanley cut their target price on XPO from $85.00 to $84.00 and set an "underweight" rating for the company in a research note on Friday, August 1st. Truist Financial raised their target price on XPO from $125.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. JPMorgan Chase & Co. raised their target price on XPO from $121.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Bank of America raised their target price on XPO from $139.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company lifted their price target on XPO from $144.00 to $147.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $138.00.

XPO Profile

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.