Retirement Systems of Alabama Decreases Stock Position in XPO, Inc. (NYSE:XPO)

Retirement Systems of Alabama lowered its holdings in XPO, Inc. (NYSE:XPO - Free Report) by 4.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 252,005 shares of the transportation company's stock after selling 11,254 shares during the quarter. Retirement Systems of Alabama owned about 0.22% of XPO worth $27,093,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Neo Ivy Capital Management purchased a new position in XPO in the third quarter valued at approximately $534,000. Traynor Capital Management Inc. boosted its holdings in shares of XPO by 125.2% in the 3rd quarter. Traynor Capital Management Inc. now owns 24,142 shares of the transportation company's stock valued at $2,596,000 after buying an additional 13,422 shares in the last quarter. PCJ Investment Counsel Ltd. grew its position in shares of XPO by 36.2% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 40,410 shares of the transportation company's stock valued at $4,344,000 after buying an additional 10,740 shares during the last quarter. Whalen Wealth Management Inc. acquired a new stake in XPO during the 3rd quarter worth $706,000. Finally, Westwood Holdings Group Inc. lifted its position in XPO by 38.6% in the second quarter. Westwood Holdings Group Inc. now owns 205,196 shares of the transportation company's stock valued at $21,782,000 after acquiring an additional 57,192 shares during the last quarter. Institutional investors and hedge funds own 97.73% of the company's stock.

Wall Street Analysts Forecast Growth

XPO has been the topic of a number of research analyst reports. Oppenheimer lifted their target price on XPO from $148.00 to $176.00 and gave the stock an "outperform" rating in a research report on Thursday. Stephens reaffirmed an "overweight" rating and set a $165.00 price target on shares of XPO in a research report on Wednesday, December 4th. Evercore ISI decreased their price objective on XPO from $129.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on shares of XPO from $150.00 to $167.00 and gave the company a "buy" rating in a report on Thursday. Finally, Wells Fargo & Company increased their price target on shares of XPO from $119.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.31.

XPO Price Performance

Shares of XPO stock traded down $1.87 during trading on Friday, reaching $156.30. The company's stock had a trading volume of 1,478,728 shares, compared to its average volume of 1,473,598. The business has a 50 day moving average price of $136.67 and a 200-day moving average price of $119.30. XPO, Inc. has a 12-month low of $80.26 and a 12-month high of $159.43. The company has a market capitalization of $18.19 billion, a P/E ratio of 50.58, a price-to-earnings-growth ratio of 2.40 and a beta of 2.08. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.04.

XPO (NYSE:XPO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. XPO had a net margin of 4.57% and a return on equity of 31.16%. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the prior year, the company posted $0.88 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts anticipate that XPO, Inc. will post 3.62 EPS for the current year.

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.