Raymond James Financial Inc. Acquires 65,023 Shares of XPO, Inc. $XPO

Key Points

• Raymond James Financial Inc. has increased its holdings in XPO, Inc. by 9.4%, now owning 760,086 shares valued at approximately $81.77 million.
• Several institutional investors, including T. Rowe Price and Northern Trust Corp, have significantly increased their stakes in XPO, with hedge funds owning about 97.73% of the stock.
• XPO's recent earnings report showed an EPS of $1.05, exceeding estimates, and the company has a current market cap of $15.46 billion.

Raymond James Financial Inc. increased its holdings in XPO, Inc. (NYSE:XPO - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 760,086 shares of the transportation company's stock after acquiring an additional 65,023 shares during the period. Raymond James Financial Inc. owned about 0.65% of XPO worth $81,770,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. SouthState Corp acquired a new position in shares of XPO during the 1st quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of XPO by 89.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the transportation company's stock valued at $26,000 after acquiring an additional 113 shares during the last quarter. Parallel Advisors LLC grew its holdings in XPO by 58.8% in the 1st quarter. Parallel Advisors LLC now owns 486 shares of the transportation company's stock valued at $52,000 after buying an additional 180 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in XPO by 65.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 527 shares of the transportation company's stock valued at $57,000 after buying an additional 209 shares during the last quarter. Finally, Archer Investment Corp acquired a new stake in XPO in the 1st quarter valued at approximately $91,000. 97.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on XPO. 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 report on Tuesday, July 8th. Bank of America lifted their target price on XPO from $139.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Oppenheimer boosted their price target on XPO from $126.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, July 7th. TD Cowen dropped their target price on XPO from $136.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Finally, Citigroup raised XPO from a "neutral" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Friday, August 1st. Nineteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.00.

XPO Stock Up 7.4%

NYSE XPO traded up $9.4840 during trading hours on Friday, hitting $137.4040. The company's stock had a trading volume of 1,996,689 shares, compared to its average volume of 1,295,165. XPO, Inc. has a 52 week low of $85.06 and a 52 week high of $161.00. The company has a market capitalization of $16.18 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 2.47 and a beta of 1.97. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 1.88. The company's 50-day simple moving average is $127.85 and its two-hundred day simple moving average is $119.26.

XPO (NYSE:XPO - Get Free Report) last posted 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. XPO had a net margin of 4.32% and a return on equity of 26.48%. The company had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. XPO's revenue was up .0% on a year-over-year basis. Research analysts anticipate that XPO, Inc. will post 4.15 EPS for the current fiscal 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.