Durable Capital Partners LP Acquires New Position in XPO, Inc. (NYSE:XPO)

Durable Capital Partners LP bought a new position in XPO, Inc. (NYSE:XPO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 578,903 shares of the transportation company’s stock, valued at approximately $75,923,000. Durable Capital Partners LP owned approximately 0.50% of XPO at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in XPO by 18.5% in the fourth quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company’s stock worth $1,789,171,000 after purchasing an additional 2,125,686 shares during the last quarter. Vanguard Group Inc. raised its position in shares of XPO by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 11,034,926 shares of the transportation company’s stock valued at $1,447,231,000 after buying an additional 79,393 shares in the last quarter. Capital World Investors lifted its holdings in shares of XPO by 26.1% in the 4th quarter. Capital World Investors now owns 7,753,883 shares of the transportation company’s stock valued at $1,016,923,000 after acquiring an additional 1,605,001 shares during the last quarter. FMR LLC increased its stake in XPO by 3.6% during the fourth quarter. FMR LLC now owns 2,606,265 shares of the transportation company’s stock worth $341,812,000 after acquiring an additional 91,252 shares during the last quarter. Finally, Invesco Ltd. raised its position in XPO by 29.6% during the fourth quarter. Invesco Ltd. now owns 1,863,278 shares of the transportation company’s stock valued at $244,369,000 after purchasing an additional 425,678 shares during the period. Institutional investors own 97.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on XPO. JPMorgan Chase & Co. cut their price target on shares of XPO from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. UBS Group raised their price target on XPO from $108.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Bank of America cut their price objective on XPO from $150.00 to $131.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Citigroup decreased their target price on XPO from $148.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial cut their price target on shares of XPO from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Nineteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $133.68.

Insider Activity at XPO

In related news, COO David J. Bates acquired 1,880 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $106.16 per share, with a total value of $199,580.80. Following 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

XPO Stock Down 1.4 %

NYSE:XPO opened at $107.77 on Wednesday. The company’s 50-day simple moving average is $104.47 and its 200-day simple moving average is $127.42. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.06 and a current ratio of 1.06. XPO, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $161.00. The stock has a market capitalization of $12.70 billion, a P/E ratio of 33.37, a P/E/G ratio of 1.79 and a beta of 1.96.

XPO (NYSE:XPO) last released its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. XPO had a net margin of 4.81% and a return on equity of 30.36%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, 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 initiated a share buyback plan on Thursday, March 27th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 5.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

XPO Company 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.