California Public Employees Retirement System Trims Stock Position in XPO, Inc. (NYSE:XPO)

Posted by Defense World Staff on May 17th, 2023

California Public Employees Retirement System cut its stake in shares of XPO, Inc. (NYSE:XPO – Get Rating) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 231,343 shares of the transportation company’s stock after selling 8,704 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of XPO worth $7,701,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of XPO. Ameliora Wealth Management Ltd. purchased a new position in shares of XPO during the third quarter worth approximately $39,000. Quadrant Capital Group LLC increased its holdings in XPO by 48.2% during the third quarter. Quadrant Capital Group LLC now owns 898 shares of the transportation company’s stock valued at $40,000 after buying an additional 292 shares during the period. Worth Asset Management LLC increased its holdings in XPO by 169.2% during the fourth quarter. Worth Asset Management LLC now owns 1,750 shares of the transportation company’s stock valued at $58,000 after buying an additional 1,100 shares during the period. Salem Investment Counselors Inc. purchased a new position in XPO during the first quarter valued at approximately $60,000. Finally, Itau Unibanco Holding S.A. purchased a new position in XPO during the third quarter valued at approximately $94,000. 89.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at XPO

In other news, Director J Wes Frye acquired 1,500 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $35.74 per share, for a total transaction of $53,610.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at approximately $53,610. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.20% of the stock is currently owned by insiders.

XPO Trading Down 1.1 %

NYSE XPO opened at $47.06 on Wednesday. The company has a market capitalization of $5.45 billion, a PE ratio of 28.18, a P/E/G ratio of 2.73 and a beta of 2.16. The company has a fifty day moving average of $37.14 and a 200 day moving average of $37.02. XPO, Inc. has a 1 year low of $24.51 and a 1 year high of $49.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.01 and a quick ratio of 1.01.

XPO (NYSE:XPO – Get Rating) last posted its earnings results on Thursday, May 4th. The transportation company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. XPO had a net margin of 1.92% and a return on equity of 39.93%. The firm’s quarterly revenue was down 45.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. Research analysts forecast that XPO, Inc. will post 2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on XPO. Cowen cut their price objective on shares of XPO from $50.00 to $45.00 in a report on Friday, February 10th. Bank of America raised shares of XPO from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $33.00 to $50.00 in a report on Monday, May 8th. Oppenheimer cut their price objective on shares of XPO from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, February 13th. Jefferies Financial Group lowered shares of XPO from a “buy” rating to a “hold” rating and cut their price objective for the company from $42.00 to $40.00 in a report on Friday, February 10th. Finally, Morgan Stanley lowered shares of XPO from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $55.00 to $43.00 in a report on Monday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.10.

XPO 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.