California Public Employees Retirement System Raises Stake in XPO, Inc. (NYSE:XPO)

California Public Employees Retirement System increased its stake in shares of XPO, Inc. (NYSE:XPO - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,267 shares of the transportation company's stock after acquiring an additional 28,084 shares during the period. California Public Employees Retirement System owned about 0.15% of XPO worth $23,511,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in XPO. Okabena Investment Services Inc. raised its stake in shares of XPO by 81.7% in the 4th quarter. Okabena Investment Services Inc. now owns 8,107 shares of the transportation company's stock valued at $1,063,000 after purchasing an additional 3,646 shares during the period. Pictet Asset Management Holding SA raised its position in XPO by 6.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,786 shares of the transportation company's stock valued at $2,070,000 after buying an additional 1,015 shares during the last quarter. X Square Capital LLC raised its position in XPO by 0.9% in the 4th quarter. X Square Capital LLC now owns 22,545 shares of the transportation company's stock valued at $2,957,000 after buying an additional 192 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in XPO during the 4th quarter worth approximately $1,579,000. Finally, Norges Bank acquired a new position in XPO during the fourth quarter worth $188,808,000. 97.73% of the stock is owned by institutional investors.

Insider Activity

In other XPO news, COO David J. Bates purchased 1,880 shares of XPO stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $106.16 per share, with a total value of $199,580.80. Following the transaction, the chief operating officer now owns 21,106 shares in the company, valued at $2,240,612.96. This trade represents a 9.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on XPO from $170.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Susquehanna cut their price objective on shares of XPO from $180.00 to $138.00 and set a "positive" rating for the company in a research report on Monday, March 31st. Raymond James dropped their price target on XPO from $170.00 to $165.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Bank of America lowered their target price on shares of XPO from $150.00 to $131.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, The Goldman Sachs Group raised their price target on XPO from $150.00 to $167.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Nineteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $150.58.

XPO Trading Up 3.3 %

Shares of XPO stock traded up $3.07 during trading on Tuesday, hitting $95.12. The company's stock had a trading volume of 464,269 shares, compared to its average volume of 1,646,490. XPO, Inc. has a 52 week low of $85.06 and a 52 week high of $161.00. 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 stock has a market cap of $11.15 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 1.79 and a beta of 2.05. The stock has a 50-day moving average price of $121.55 and a two-hundred day moving average price of $129.56.

XPO (NYSE:XPO - Get Free Report) last released its earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share (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%. Equities research analysts anticipate that XPO, Inc. will post 4.15 EPS for the current fiscal year.

XPO announced that its board has authorized a share buyback program on Thursday, March 27th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the transportation company to buy up to 5.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

XPO 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.