Orbis Allan Gray Ltd Has $290.16 Million Holdings in XPO, Inc. $XPO

Key Points

• Orbis Allan Gray Ltd has reduced its stake in XPO, Inc. by 9.8%, selling 294,230 shares during the first quarter, and now holds approximately 2.29% of the company valued at $290.16 million.
• Several institutional investors have increased their holdings in XPO, with BNP Paribas Financial Markets boosting its position by 854.2% during the same period.
• XPO reported an earnings per share of $1.05 for the last quarter, exceeding estimates, with revenues reaching $2.08 billion, slightly above analyst expectations.

Orbis Allan Gray Ltd lowered its position in XPO, Inc. (NYSE:XPO - Free Report) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,697,161 shares of the transportation company's stock after selling 294,230 shares during the quarter. XPO makes up approximately 1.7% of Orbis Allan Gray Ltd's portfolio, making the stock its 25th biggest position. Orbis Allan Gray Ltd owned approximately 2.29% of XPO worth $290,161,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in XPO. Durable Capital Partners LP acquired a new position in shares of XPO during the 4th quarter worth $75,923,000. BNP Paribas Financial Markets boosted its holdings in XPO by 854.2% in the first quarter. BNP Paribas Financial Markets now owns 551,539 shares of the transportation company's stock valued at $59,335,000 after acquiring an additional 493,736 shares during the last quarter. Nuveen LLC purchased a new stake in XPO during the first quarter worth approximately $33,965,000. T. Rowe Price Investment Management Inc. increased its holdings in XPO by 17.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,073,352 shares of the transportation company's stock valued at $223,052,000 after purchasing an additional 306,928 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in XPO by 243.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 295,924 shares of the transportation company's stock worth $31,836,000 after buying an additional 209,808 shares in the last quarter. Institutional investors and hedge funds own 97.73% of the company's stock.

XPO Stock Down 2.1%

NYSE XPO traded down $2.77 on Tuesday, reaching $126.93. The company had a trading volume of 1,192,889 shares, compared to its average volume of 1,582,054. 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 company's fifty day moving average is $129.16 and its 200-day moving average is $118.42. XPO, Inc. has a 1-year low of $85.06 and a 1-year high of $161.00. The firm has a market capitalization of $14.95 billion, a price-to-earnings ratio of 43.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.96.

XPO (NYSE:XPO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. XPO had a net margin of 4.32% and a return on equity of 26.48%. The company's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 earnings per share. On average, research analysts forecast that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

XPO has been the subject of several recent analyst reports. TD Cowen decreased their price objective on shares of XPO from $136.00 to $133.00 and set a "buy" rating for the company in a report on Friday, June 27th. Oppenheimer boosted their price target on shares of XPO from $126.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, July 7th. Barclays raised their price target on XPO from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Jefferies Financial Group restated a "buy" rating and issued a $140.00 target price (up from $135.00) on shares of XPO in a report on Tuesday, June 10th. Finally, Morgan Stanley lowered their price target on shares of XPO from $85.00 to $84.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. Nineteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, XPO has a consensus rating of "Moderate Buy" and a consensus price target of $138.00.

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.