XPO, Inc. $XPO Shares Sold by Fishman Jay A Ltd. MI

Key Points

• Fishman Jay A Ltd. MI reduced its XPO stake by 6.8% in the third quarter, selling 17,283 shares and retaining 237,867 shares worth approximately $41.9 million. Institutional investors collectively own 97.73% of XPO.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $222.64, although some firms recently lowered their targets.
• XPO reported quarterly EPS of $1.70, exceeding estimates of $1.48, while revenue rose 13.2% year over year to $2.35 billion. Company insiders sold 11,730 shares worth about $2.21 million over the past three months.

Fishman Jay A Ltd. MI decreased its holdings in shares of XPO, Inc. (NYSE:XPO - Free Report) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 237,867 shares of the transportation company's stock after selling 17,283 shares during the period. XPO makes up about 3.4% of Fishman Jay A Ltd. MI's holdings, making the stock its 9th biggest position. Fishman Jay A Ltd. MI owned approximately 0.20% of XPO worth $41,860,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of XPO. BlackRock Inc. purchased a new stake in shares of XPO in the second quarter valued at approximately $2,985,276,000. MFN Partners Management LP purchased a new position in XPO in the second quarter worth $2,026,148,865. Bessemer Group Inc. raised its position in XPO by 115.9% in the first quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company's stock worth $470,986,000 after acquiring an additional 1,299,480 shares in the last quarter. Findlay Park Partners LLP purchased a new position in XPO in the second quarter worth $236,104,000. Finally, Bank of New York Mellon Corp acquired a new stake in XPO in the second quarter valued at $151,798,000. 97.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on XPO shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $247.00 price target on shares of XPO in a report on Thursday, July 30th. Oppenheimer raised their price objective on shares of XPO from $236.00 to $238.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Susquehanna decreased their price objective on shares of XPO from $225.00 to $194.00 and set a "neutral" rating on the stock in a report on Friday, October 2nd. BMO Capital Markets restated an "outperform" rating on shares of XPO in a research report on Wednesday, October 7th. Finally, Truist Financial dropped their target price on shares of XPO from $240.00 to $220.00 and set a "buy" rating for the company in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $222.64.

Insider Buying and Selling at XPO

In other news, COO David J. Bates sold 2,615 shares of the firm's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $179.41, for a total transaction of $469,157.15. Following the sale, the chief operating officer owned 64,735 shares in the company, valued at $11,614,106.35. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Wismans sold 750 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $175.47, for a total value of $131,602.50. Following the sale, the chief financial officer owned 47,966 shares in the company, valued at $8,416,594.02. This trade represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,730 shares of company stock worth $2,208,974. Insiders own 0.87% of the company's stock.

XPO Price Performance

XPO stock opened at $187.89 on Wednesday. XPO, Inc. has a 12-month low of $121.48 and a 12-month high of $232.05. The stock has a market capitalization of $22.00 billion, a P/E ratio of 55.42 and a beta of 1.85. The firm's 50-day moving average is $184.70 and its two-hundred day moving average is $195.59.

XPO (NYSE:XPO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.22. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the firm earned $1.05 EPS. The business's quarterly revenue was up 13.2% on a year-over-year basis. As a group, analysts forecast that XPO, Inc. will post 5.47 EPS for the current year.

XPO Profile

XPO, Inc is a transportation and logistics company that provides freight-moving services to businesses across North America and Europe. Its operations are centered on less-than-truckload (LTL) transportation, which involves consolidating shipments from multiple customers onto a single truck and is commonly used for freight that does not require a full trailer.

In North America, XPO provides regional, interregional and national LTL services, along with related offerings such as freight pickup and delivery, shipment visibility and technology-enabled transportation management.

Want to see what other hedge funds are holding XPO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XPO, Inc. (NYSE:XPO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.