Legal & General Group Plc Sells 31,244 Shares of XPO, Inc. (NYSE:XPO)

Legal & General Group Plc cut its stake in XPO, Inc. (NYSE:XPO - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 185,628 shares of the transportation company's stock after selling 31,244 shares during the period. Legal & General Group Plc owned about 0.16% of XPO worth $24,345,000 at the end of the most recent quarter.

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

XPO Stock Performance

XPO stock traded up $3.18 during mid-day trading on Friday, reaching $96.67. The company had a trading volume of 1,028,658 shares, compared to its average volume of 1,612,006. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08. The stock's 50-day simple moving average is $113.20 and its two-hundred day simple moving average is $128.14. The stock has a market capitalization of $11.39 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.79 and a beta of 2.05. XPO, Inc. has a one year low of $85.06 and a one year high of $161.00.

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

XPO declared that its Board of Directors has approved a stock buyback program on Thursday, March 27th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

XPO has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on XPO from $147.00 to $142.00 and set a "buy" rating for the company in a research report on Monday. Truist Financial assumed coverage on shares of XPO in a research note on Thursday, March 13th. They issued a "buy" rating and a $130.00 price target on the stock. Benchmark boosted their price objective on shares of XPO from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Jefferies Financial Group cut their price target on shares of XPO from $170.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on XPO in a report on Friday, March 7th. They set a "buy" rating and a $156.00 price objective on the stock. Nineteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $139.89.

Insider Buying and Selling

In related news, COO David J. Bates purchased 1,880 shares of XPO stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $106.16 per share, with a total value of $199,580.80. Following the completion of the transaction, the chief operating officer now directly owns 21,106 shares of the company's stock, valued at $2,240,612.96. This trade represents a 9.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

About XPO

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.