Handelsbanken Fonder AB Buys Shares of 9,500 XPO, Inc. (NYSE:XPO)

Posted by on May 8th, 2023

Handelsbanken Fonder AB bought a new stake in XPO, Inc. (NYSE:XPO – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,500 shares of the transportation company’s stock, valued at approximately $316,000.

Several other large investors have also recently bought and sold shares of XPO. MFN Partners Management LP increased its stake in XPO by 68.4% in the first quarter. MFN Partners Management LP now owns 7,200,369 shares of the transportation company’s stock valued at $524,187,000 after purchasing an additional 2,925,000 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of XPO by 9.9% in the first quarter. BlackRock Inc. now owns 10,049,511 shares of the transportation company’s stock valued at $731,604,000 after buying an additional 906,295 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of XPO by 216.0% in the fourth quarter. New York State Common Retirement Fund now owns 715,086 shares of the transportation company’s stock valued at $23,805,000 after buying an additional 488,774 shares during the period. Vanguard Group Inc. boosted its holdings in shares of XPO by 4.7% in the first quarter. Vanguard Group Inc. now owns 9,457,125 shares of the transportation company’s stock valued at $688,479,000 after buying an additional 424,449 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of XPO by 1,338.5% in the first quarter. Renaissance Technologies LLC now owns 404,520 shares of the transportation company’s stock valued at $29,449,000 after buying an additional 376,400 shares during the period. Institutional investors own 89.57% of the company’s stock.

XPO Trading Up 4.3 %

XPO opened at $47.90 on Monday. XPO, Inc. has a fifty-two week low of $24.51 and a fifty-two week high of $49.00. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.01 and a quick ratio of 1.08. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 2.12 and a beta of 2.16. The company’s 50 day moving average price is $35.44 and its two-hundred day moving average price is $37.06.

XPO (NYSE:XPO – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The transportation company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. XPO had a net margin of 1.92% and a return on equity of 39.93%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s quarterly revenue was down 45.1% on a year-over-year basis. As a group, research analysts predict that XPO, Inc. will post 2.4 earnings per share for the current year.

Insider Activity

In other news, Director J Wes Frye acquired 1,500 shares of XPO stock in a transaction dated Friday, March 10th. The shares were bought at an average cost of $35.74 per share, with a total value of $53,610.00. Following the purchase, the director now owns 1,500 shares in the company, valued at approximately $53,610. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 11.20% of the company’s stock.

Analyst Ratings Changes

XPO has been the subject of several recent research reports. Benchmark restated a “buy” rating and set a $44.00 target price on shares of XPO in a report on Friday, February 10th. Wells Fargo & Company dropped their price target on shares of XPO from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 12th. Barclays increased their price objective on shares of XPO from $40.00 to $55.00 in a research report on Friday. Jefferies Financial Group lowered shares of XPO from a “buy” rating to a “hold” rating and dropped their price objective for the company from $42.00 to $40.00 in a research report on Friday, February 10th. Finally, Credit Suisse Group raised their price target on shares of XPO from $39.00 to $52.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.39.

XPO Company Profile

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XPO, Inc engages in the provision of freight transportation services. It operates through North American Less-Than-Truckload and European Transportation segments. The North American Less-Than-Truckload segment includes cross-border U.S. service to and from Mexico and Canada, as well as intra-Canada service.

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Institutional Ownership by Quarter for XPO (NYSE:XPO)

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