The Manufacturers Life Insurance Company Acquires 209,808 Shares of XPO, Inc. $XPO

Key Points

• The Manufacturers Life Insurance Company increased its stake in XPO, Inc. by 243.6% in the first quarter, owning approximately 0.25% of the company, valued at $31.8 million.
• Several hedge funds have also increased their positions in XPO, with institutional investors owning 97.73% of the stock.
• XPO reported earnings of $1.05 EPS for the latest quarter, beating estimates and marking a year-over-year revenue increase despite a slight decline in EPS compared to the previous year.

The Manufacturers Life Insurance Company boosted its holdings in XPO, Inc. (NYSE:XPO - Free Report) by 243.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,924 shares of the transportation company's stock after purchasing an additional 209,808 shares during the period. The Manufacturers Life Insurance Company owned about 0.25% of XPO worth $31,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Magnetar Financial LLC bought a new position in XPO in the first quarter valued at $378,000. Okabena Investment Services Inc. raised its stake in XPO by 22.7% in the 1st quarter. Okabena Investment Services Inc. now owns 9,948 shares of the transportation company's stock worth $1,070,000 after purchasing an additional 1,841 shares in the last quarter. BNP Paribas Financial Markets raised its stake in XPO by 854.2% in the 1st quarter. BNP Paribas Financial Markets now owns 551,539 shares of the transportation company's stock worth $59,335,000 after purchasing an additional 493,736 shares in the last quarter. Findlay Park Partners LLP raised its stake in XPO by 11.6% in the 1st quarter. Findlay Park Partners LLP now owns 1,572,500 shares of the transportation company's stock worth $169,170,000 after purchasing an additional 163,300 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in XPO by 28.5% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 211,610 shares of the transportation company's stock worth $22,765,000 after purchasing an additional 46,987 shares in the last quarter. Institutional investors own 97.73% of the company's stock.

XPO Price Performance

Shares of XPO stock traded down $0.04 during midday trading on Friday, hitting $130.79. 924,781 shares of the company traded hands, compared to its average volume of 1,120,888. The stock has a market cap of $15.40 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 2.53 and a beta of 1.96. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.02 and a current ratio of 1.01. The firm's fifty day moving average price is $129.38 and its 200-day moving average price is $118.27. XPO, Inc. has a 12 month low of $85.06 and a 12 month 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. XPO had a net margin of 4.32% and a return on equity of 26.48%. The firm's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 EPS. As a group, sell-side analysts forecast that XPO, Inc. will post 4.15 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America raised their target price on shares of XPO from $139.00 to $150.00 and gave the company a "buy" rating in a report on Monday, July 7th. Citigroup raised shares of XPO from a "neutral" rating to a "buy" rating and set a $140.00 target price on the stock in a report on Friday, August 1st. TD Cowen decreased their target price on shares of XPO from $136.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Stifel Nicolaus decreased their target price on shares of XPO from $145.00 to $136.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Finally, UBS Group raised their target price on shares of XPO from $123.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Nineteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, XPO currently has an average rating of "Moderate Buy" and a consensus price target of $138.00.

XPO Company 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.