T. Rowe Price Investment Management Inc. Purchases Shares of 1,766,424 XPO, Inc. (NYSE:XPO)

T. Rowe Price Investment Management Inc. bought a new stake in XPO, Inc. (NYSE:XPO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,766,424 shares of the transportation company's stock, valued at approximately $231,667,000. T. Rowe Price Investment Management Inc. owned about 1.52% of XPO as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc bought a new stake in shares of XPO during the 4th quarter worth approximately $29,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of XPO in the 4th quarter valued at about $42,000. Cullen Frost Bankers Inc. grew its holdings in XPO by 69.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company's stock worth $42,000 after purchasing an additional 130 shares during the period. Larson Financial Group LLC increased its position in XPO by 25.6% during the fourth quarter. Larson Financial Group LLC now owns 373 shares of the transportation company's stock worth $49,000 after buying an additional 76 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of XPO by 19.0% in the fourth quarter. UMB Bank n.a. now owns 538 shares of the transportation company's stock valued at $71,000 after buying an additional 86 shares during the last quarter. Institutional investors own 97.73% of the company's stock.

Analyst Upgrades and Downgrades

XPO has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on XPO from $170.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of XPO in a research note on Friday, March 7th. They set a "buy" rating and a $156.00 target price for the company. Stifel Nicolaus decreased their price target on shares of XPO from $147.00 to $142.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays cut their price objective on shares of XPO from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Bank of America decreased their target price on XPO from $150.00 to $131.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Nineteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $139.63.

Insider Buying and Selling

In related news, COO David J. Bates purchased 1,880 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $106.16 per share, with a total value of $199,580.80. Following the completion of the purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

XPO Trading Up 1.2 %

XPO stock traded up $1.19 during trading hours on Monday, hitting $97.61. The stock had a trading volume of 2,946,354 shares, compared to its average volume of 1,618,278. The business's 50 day simple moving average is $107.50 and its 200-day simple moving average is $128.03. XPO, Inc. has a one year low of $85.06 and a one year high of $161.00. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 1.79 and a beta of 2.05. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08.

XPO (NYSE:XPO - Get Free Report) last posted 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 net margin of 4.81% and a return on equity of 30.36%. On average, equities analysts predict that XPO, Inc. will post 4.15 EPS for the current fiscal year.

XPO declared that its board has initiated a stock repurchase program on Thursday, March 27th that permits the company to buyback $750.00 million in shares. This buyback authorization permits 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 board believes its shares are undervalued.

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.