XPO, Inc. $XPO Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its XPO stake by 4.9% in the first quarter, owning 447,301 shares valued at approximately $87 million. Institutional investors and hedge funds collectively own 97.73% of the company.
• XPO reported quarterly EPS of $1.70, exceeding estimates of $1.48, while revenue reached $2.35 billion, up 13.2% year over year and above expectations.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $225.86, despite some recent target reductions and a director’s sale of shares.

Bank of America Corp DE lifted its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 447,301 shares of the transportation company's stock after buying an additional 21,064 shares during the quarter. Bank of America Corp DE owned 0.38% of XPO worth $87,022,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XPO. Elyxium Wealth LLC acquired a new stake in XPO in the fourth quarter valued at approximately $28,000. Torren Management LLC acquired a new position in shares of XPO during the fourth quarter worth $37,000. International Assets Investment Management LLC acquired a new position in shares of XPO during the fourth quarter worth $41,000. Horizon Investments LLC acquired a new position in shares of XPO during the third quarter worth $39,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of XPO in the fourth quarter valued at $43,000. 97.73% of the stock is owned by institutional investors and hedge funds.

XPO Stock Up 3.1%

XPO stock opened at $202.39 on Friday. XPO, Inc. has a twelve month low of $117.98 and a twelve month high of $232.05. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $23.70 billion, a P/E ratio of 59.70, a PEG ratio of 2.08 and a beta of 1.85. The firm has a 50 day simple moving average of $209.09 and a 200-day simple moving average of $201.07.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.22. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. XPO had a net margin of 4.71% and a return on equity of 29.64%. The business's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts predict that XPO, Inc. will post 5.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Allison Landry sold 2,400 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $215.61, for a total value of $517,464.00. Following the completion of the sale, the director owned 4,849 shares of the company's stock, valued at approximately $1,045,492.89. The trade was a 33.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

XPO has been the subject of a number of recent analyst reports. Citigroup lowered their price target on shares of XPO from $226.00 to $221.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Zacks Research upgraded shares of XPO from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 4th. Weiss Ratings cut shares of XPO from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. Citizens Jmp assumed coverage on XPO in a research note on Wednesday, July 15th. They set a "market perform" rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on XPO from $208.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.86.

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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