Norges Bank bought a new stake in XPO, Inc. (NYSE:XPO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,439,636 shares of the transportation company's stock, valued at approximately $188,808,000. Norges Bank owned approximately 1.24% of XPO as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of XPO. Quantbot Technologies LP lifted its position in shares of XPO by 44.5% in the third quarter. Quantbot Technologies LP now owns 5,725 shares of the transportation company's stock worth $615,000 after purchasing an additional 1,764 shares in the last quarter. BNP Paribas Financial Markets lifted its position in XPO by 25.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,648 shares of the transportation company's stock worth $2,972,000 after buying an additional 5,680 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of XPO during the 3rd quarter worth about $232,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of XPO by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,534 shares of the transportation company's stock valued at $2,745,000 after acquiring an additional 381 shares in the last quarter. Finally, Aureus Asset Management LLC acquired a new stake in shares of XPO in the third quarter valued at about $1,075,000. Institutional investors and hedge funds own 97.73% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on XPO. Wells Fargo & Company reduced their price target on XPO from $170.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Bank of America cut their price objective on XPO from $150.00 to $131.00 and set a "buy" rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of XPO in a report on Friday, March 7th. They set a "buy" rating and a $156.00 target price on the stock. Benchmark increased their price target on shares of XPO from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group lifted their price objective on shares of XPO from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Nineteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, XPO currently has a consensus rating of "Buy" and a consensus target price of $153.16.
Get Our Latest Report on XPO
XPO Stock Performance
NYSE XPO traded up $1.58 on Tuesday, reaching $109.16. The stock had a trading volume of 1,260,812 shares, compared to its average volume of 1,548,531. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $12.80 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13. The firm has a fifty day moving average of $124.79 and a two-hundred day moving average of $129.96. XPO, Inc. has a 1-year low of $97.03 and a 1-year high of $161.00.
XPO (NYSE:XPO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.68 by $0.21. XPO had a net margin of 4.81% and a return on equity of 30.36%. On average, equities research analysts anticipate that XPO, Inc. will post 4.15 EPS for the current year.
XPO declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 27th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the transportation company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Insiders Place Their Bets
In other XPO news, COO David J. Bates purchased 1,880 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was bought 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 owns 21,106 shares in the company, valued at approximately $2,240,612.96. This represents a 9.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.00% of the company's stock.
About XPO
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Free Report)
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.
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