XPO, Inc. $XPO Stock Position Raised by California Public Employees Retirement System

Key Points

• CalPERS increased its stake in XPO by 20.3% in the first quarter, buying 33,350 additional shares and bringing its total to 197,850 shares worth about $38.5 million.
• XPO posted stronger-than-expected quarterly results, reporting $1.01 EPS versus the $0.89 consensus and revenue of $2.10 billion, up 7.3% year over year.
• Wall Street remains broadly positive on XPO, with a consensus rating of “Moderate Buy” and an average price target of $219.57, despite a recent insider sale by Director Allison Landry.

California Public Employees Retirement System increased its stake in XPO, Inc. (NYSE:XPO - Free Report) by 20.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 197,850 shares of the transportation company's stock after acquiring an additional 33,350 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of XPO worth $38,492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of XPO. Durable Capital Partners LP lifted its holdings in shares of XPO by 79.3% during the second quarter. Durable Capital Partners LP now owns 3,595,056 shares of the transportation company's stock valued at $454,020,000 after purchasing an additional 1,589,759 shares during the last quarter. Norges Bank purchased a new position in XPO in the 4th quarter worth about $204,304,000. Bessemer Group Inc. raised its holdings in XPO by 115.9% during the 1st quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company's stock worth $470,986,000 after buying an additional 1,299,480 shares during the period. Invesco Ltd. raised its holdings in XPO by 19.8% during the 3rd quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company's stock worth $810,249,000 after buying an additional 1,036,434 shares during the period. Finally, Orbis Allan Gray Ltd lifted its stake in XPO by 15.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company's stock valued at $496,423,000 after buying an additional 499,220 shares in the last quarter. 97.73% of the stock is owned by institutional investors and hedge funds.

XPO Stock Performance

Shares of XPO opened at $210.72 on Tuesday. The company has a market capitalization of $24.74 billion, a PE ratio of 72.17, a PEG ratio of 2.48 and a beta of 1.85. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The company's 50 day moving average price is $209.27 and its 200 day moving average price is $195.58. XPO, Inc. has a 52 week low of $116.68 and a 52 week high of $232.05.

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

Insider Buying and Selling at XPO

In other news, Director Allison Landry sold 2,400 shares of the company's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $215.61, for a total value of $517,464.00. Following the transaction, the director directly owned 4,849 shares of the company's stock, valued at approximately $1,045,492.89. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on XPO. Citizens Jmp began coverage on shares of XPO in a report on Wednesday, July 15th. They issued a "market perform" rating for the company. Jefferies Financial Group increased their target price on XPO to $275.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 target price on shares of XPO in a research report on Thursday, April 30th. Benchmark lifted their price target on XPO from $220.00 to $240.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, Stephens raised XPO to a "strong-buy" rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, XPO currently has a consensus rating of "Moderate Buy" and a consensus price target of $219.57.

About XPO

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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