Renaissance Technologies LLC boosted its stake in XPO, Inc. (NYSE:XPO - Free Report) by 40.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 237,420 shares of the transportation company's stock after buying an additional 67,800 shares during the period. Renaissance Technologies LLC owned 0.20% of XPO worth $31,138,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc bought a new position in XPO during the 4th quarter valued at $29,000. Halbert Hargrove Global Advisors LLC bought a new stake in XPO in the fourth quarter worth about $42,000. Cullen Frost Bankers Inc. lifted its holdings in XPO by 69.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company's stock valued at $42,000 after acquiring an additional 130 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of XPO by 25.6% in the 4th quarter. Larson Financial Group LLC now owns 373 shares of the transportation company's stock worth $49,000 after purchasing an additional 76 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of XPO by 19.0% in the 4th quarter. UMB Bank n.a. now owns 538 shares of the transportation company's stock worth $71,000 after purchasing an additional 86 shares in the last quarter. 97.73% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Benchmark increased their price objective on XPO from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on XPO in a research report on Friday, March 7th. They issued a "buy" rating and a $156.00 price target for the company. Truist Financial began coverage on XPO in a report on Thursday, March 13th. They set a "buy" rating and a $130.00 price objective on the stock. Vertical Research raised shares of XPO from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Thursday, March 6th. Finally, Stifel Nicolaus dropped their target price on shares of XPO from $147.00 to $142.00 and set a "buy" rating on the stock in a research report on Monday. Nineteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $139.89.
Check Out Our Latest Research Report on XPO
XPO Stock Down 1.6 %
XPO traded down $1.54 during midday trading on Tuesday, hitting $95.92. 1,204,042 shares of the company's stock traded hands, compared to its average volume of 1,614,921. 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 company has a market cap of $11.30 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.79 and a beta of 2.05. The stock's fifty day simple moving average is $116.30 and its 200-day simple moving average is $128.68. 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 released its quarterly earnings data 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%. As a group, equities analysts anticipate that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.
XPO declared that its Board of Directors has approved a stock repurchase program on Thursday, March 27th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 5.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
Insider Transactions at XPO
In related news, COO David J. Bates purchased 1,880 shares of the stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $106.16 per share, for a total transaction of $199,580.80. Following the completion of the acquisition, the chief operating officer now directly owns 21,106 shares in the company, valued at approximately $2,240,612.96. This trade represents a 9.78 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
About XPO
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Free Report)
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.
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