XPO, Inc. (NYSE:XPO) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lessened its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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 quarter.

Other institutional investors have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC purchased a new position in XPO in the fourth quarter worth about $42,000. Cullen Frost Bankers Inc. lifted its holdings in XPO by 69.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company's stock worth $42,000 after purchasing an additional 130 shares in the last quarter. Larson Financial Group LLC lifted its holdings in XPO by 25.6% in the 4th quarter. Larson Financial Group LLC now owns 373 shares of the transportation company's stock worth $49,000 after purchasing an additional 76 shares in the last quarter. UMB Bank n.a. lifted its holdings in XPO by 19.0% in the 4th quarter. UMB Bank n.a. now owns 538 shares of the transportation company's stock worth $71,000 after purchasing an additional 86 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in XPO in the 4th quarter worth approximately $83,000. Hedge funds and other institutional investors own 97.73% of the company's stock.

Wall Street Analyst Weigh In

XPO has been the topic of a number of research reports. Oppenheimer reduced their price objective on XPO from $142.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Raymond James cut their target price on XPO from $165.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Citigroup cut their target price on XPO from $148.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Bank of America boosted their target price on XPO from $119.00 to $139.00 and gave the company a "buy" rating in a research report on Friday. Finally, Barclays cut their target price on XPO from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Nineteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $134.11.

XPO Stock Up 1.3%

Shares of NYSE XPO traded up $1.58 during mid-day trading on Friday, reaching $127.26. 488,856 shares of the company were exchanged, compared to its average volume of 1,826,348. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 39.40, a P/E/G ratio of 1.79 and a beta of 1.96. XPO, Inc. has a 1 year low of $85.06 and a 1 year high of $161.00. The firm has a 50-day moving average of $105.30 and a 200 day moving average of $127.64.

XPO (NYSE:XPO - Get Free Report) last announced its earnings results on Wednesday, April 30th. The transportation company reported $0.73 earnings per share (EPS) 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 company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company posted $0.81 EPS. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts expect that XPO, Inc. will post 4.15 earnings per share for the current year.

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

Insider Activity at XPO

In other news, COO David J. Bates acquired 1,880 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $106.16 per share, with a total value of $199,580.80. Following the completion of the acquisition, the chief operating officer now owns 21,106 shares of the company's stock, valued at approximately $2,240,612.96. This trade represents a 9.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.

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.