Formula Growth Ltd. Sells 3,500 Shares of XPO, Inc. (NYSE:XPO)

Formula Growth Ltd. cut its holdings in shares of XPO, Inc. (NYSE:XPO - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,000 shares of the transportation company's stock after selling 3,500 shares during the period. XPO makes up 1.3% of Formula Growth Ltd.'s holdings, making the stock its 25th biggest holding. Formula Growth Ltd.'s holdings in XPO were worth $3,934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in XPO during the 4th quarter worth $188,808,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in XPO during the fourth quarter worth about $163,938,000. Life Planning Partners Inc grew its position in XPO by 12,923.2% in the 4th quarter. Life Planning Partners Inc now owns 837,393 shares of the transportation company's stock worth $109,824,000 after purchasing an additional 830,963 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in XPO in the 4th quarter valued at about $91,158,000. Finally, Invesco Ltd. boosted its stake in shares of XPO by 29.6% in the 4th quarter. Invesco Ltd. now owns 1,863,278 shares of the transportation company's stock worth $244,369,000 after buying an additional 425,678 shares during the last quarter. Institutional investors and hedge funds own 97.73% of the company's stock.

XPO Price Performance

Shares of XPO traded up $2.94 during mid-day trading on Thursday, reaching $102.90. 577,988 shares of the stock traded hands, compared to its average volume of 1,710,319. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 1.79 and a beta of 2.05. XPO, Inc. has a 1 year low of $85.06 and a 1 year high of $161.00. The firm has a fifty day moving average price of $109.30 and a 200 day moving average price of $127.87. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.08.

XPO (NYSE:XPO - Get Free Report) last announced its earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. As a group, equities research analysts predict that XPO, Inc. will post 4.15 earnings per share for the current year.

XPO announced that its board has authorized a share buyback plan on Thursday, March 27th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity at XPO

In related news, COO David J. Bates purchased 1,880 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $106.16 per share, with a total value of $199,580.80. Following the acquisition, the chief operating officer now directly owns 21,106 shares of the company's stock, valued at approximately $2,240,612.96. This represents a 9.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on XPO shares. Bank of America dropped their price target on XPO from $150.00 to $131.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Jefferies Financial Group decreased their price objective on shares of XPO from $170.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Oppenheimer dropped their target price on shares of XPO from $176.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Benchmark raised their price target on shares of XPO from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Citigroup dropped their price objective on XPO from $148.00 to $113.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Nineteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $139.63.

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.