Fred Alger Management LLC Sells 2,799 Shares of XPO, Inc. (NYSE:XPO)

Fred Alger Management LLC reduced its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 26.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,774 shares of the transportation company's stock after selling 2,799 shares during the quarter. Fred Alger Management LLC's holdings in XPO were worth $1,020,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. LPL Financial LLC increased its position in shares of XPO by 57.3% in the 4th quarter. LPL Financial LLC now owns 74,250 shares of the transportation company's stock valued at $9,738,000 after buying an additional 27,034 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of XPO by 40.0% in the fourth quarter. Renaissance Technologies LLC now owns 237,420 shares of the transportation company's stock valued at $31,138,000 after purchasing an additional 67,800 shares in the last quarter. Natixis Advisors LLC raised its position in XPO by 42.8% in the 4th quarter. Natixis Advisors LLC now owns 61,414 shares of the transportation company's stock valued at $8,054,000 after buying an additional 18,398 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in XPO in the 4th quarter valued at approximately $423,000. Finally, Invesco Ltd. boosted its position in XPO by 29.6% during the 4th quarter. Invesco Ltd. now owns 1,863,278 shares of the transportation company's stock worth $244,369,000 after acquiring an additional 425,678 shares during the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on XPO shares. Stephens set a $131.00 price objective on shares of XPO and gave the company an "overweight" rating in a report on Thursday, May 1st. Barclays lowered their price target on shares of XPO from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Vertical Research upgraded shares of XPO from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Thursday, March 6th. Jefferies Financial Group decreased their price objective on XPO from $170.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Raymond James dropped their target price on XPO from $165.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Nineteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $133.68.

XPO Stock Performance

XPO stock traded up $1.50 during midday trading on Wednesday, reaching $127.50. 1,844,943 shares of the company's stock were exchanged, compared to its average volume of 1,635,273. The stock's 50-day simple moving average is $104.52 and its 200 day simple moving average is $127.60. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 39.47, a P/E/G ratio of 1.79 and a beta of 1.96. XPO, Inc. has a 52 week low of $85.06 and a 52 week high of $161.00.

XPO (NYSE:XPO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. XPO had a return on equity of 30.36% and a net margin of 4.81%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the previous year, the firm earned $0.81 EPS. The company's quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

XPO declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 27th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the transportation company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at XPO

In other news, COO David J. Bates acquired 1,880 shares of the stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $106.16 per share, for a total transaction of $199,580.80. Following the completion of the transaction, the chief operating officer now directly owns 21,106 shares in the company, valued at approximately $2,240,612.96. This trade represents a 9.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.90% of the company's stock.

XPO Company Profile

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.