XPO, Inc. $XPO Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in XPO by 0.9% in the first quarter, holding 716,747 shares valued at about $139.4 million. Institutional ownership remains very high, with hedge funds and other institutions owning 97.73% of the stock.
• Wall Street sentiment on XPO is broadly positive, with analysts assigning a Moderate Buy rating and an average price target of $219.57. Recent updates included higher targets from BMO Capital Markets and TD Cowen, while Raymond James trimmed its target slightly.
• XPO posted solid quarterly results, reporting EPS of $1.01 versus the expected $0.89 and revenue of $2.10 billion, up 7.3% year over year. The stock was last near $214.67, close to its 52-week high of $232.05.

Bank of New York Mellon Corp lifted its holdings in shares of XPO, Inc. (NYSE:XPO - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 716,747 shares of the transportation company's stock after acquiring an additional 6,167 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of XPO worth $139,443,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Amundi increased its holdings in XPO by 50.7% in the first quarter. Amundi now owns 5,412 shares of the transportation company's stock valued at $582,000 after buying an additional 1,820 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of XPO by 7.6% during the first quarter. AQR Capital Management LLC now owns 17,654 shares of the transportation company's stock valued at $1,856,000 after purchasing an additional 1,243 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of XPO by 3.2% during the 1st quarter. NewEdge Advisors LLC now owns 11,416 shares of the transportation company's stock worth $1,228,000 after purchasing an additional 355 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of XPO by 35.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the transportation company's stock worth $42,000 after purchasing an additional 88 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of XPO in the 2nd quarter worth approximately $611,000. Institutional investors and hedge funds own 97.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on XPO from $240.00 to $245.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. Truist Financial set a $240.00 target price on XPO in a research report on Friday, May 1st. Raymond James Financial cut their target price on XPO from $233.00 to $225.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price target on shares of XPO in a report on Thursday, April 30th. Finally, TD Cowen upped their price target on shares of XPO from $192.00 to $224.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, XPO has an average rating of "Moderate Buy" and an average target price of $219.57.

Insider Buying and Selling

In other news, Director Allison Landry sold 2,400 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was 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 $1,045,492.89. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.87% of the company's stock.

XPO Stock Down 0.2%

XPO stock opened at $214.67 on Monday. The firm's 50-day moving average is $209.09 and its two-hundred day moving average is $195.07. The company has a market capitalization of $25.20 billion, a price-to-earnings ratio of 73.52, a price-to-earnings-growth ratio of 2.48 and a beta of 1.85. XPO, Inc. has a 52 week low of $116.68 and a 52 week high of $232.05. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

XPO (NYSE:XPO - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.12. XPO had a net margin of 4.19% and a return on equity of 26.21%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company earned $0.73 EPS. XPO's revenue was up 7.3% on a year-over-year basis. On average, analysts forecast that XPO, Inc. will post 4.9 earnings per share for the current fiscal year.

XPO Company Profile

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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