First Citizens Bank & Trust Co. Sells 1,603 Shares of XPO, Inc. (NYSE:XPO)

First Citizens Bank & Trust Co. lessened its holdings in shares of XPO, Inc. (NYSE:XPO) by 25.8% in the first quarter, Holdings Channel.com reports. The firm owned 4,610 shares of the transportation company’s stock after selling 1,603 shares during the period. First Citizens Bank & Trust Co.’s holdings in XPO were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its position in shares of XPO by 12.9% in the first quarter. Park Avenue Securities LLC now owns 2,431 shares of the transportation company’s stock valued at $262,000 after acquiring an additional 278 shares during the period. Wedmont Private Capital raised its stake in shares of XPO by 11.9% during the first quarter. Wedmont Private Capital now owns 2,177 shares of the transportation company’s stock worth $234,000 after acquiring an additional 231 shares in the last quarter. UMB Bank n.a. raised its stake in shares of XPO by 97.4% during the first quarter. UMB Bank n.a. now owns 1,062 shares of the transportation company’s stock worth $114,000 after acquiring an additional 524 shares in the last quarter. Stablepoint Partners LLC grew its holdings in XPO by 3.3% in the 1st quarter. Stablepoint Partners LLC now owns 3,771 shares of the transportation company’s stock worth $406,000 after acquiring an additional 122 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in XPO by 48.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,891 shares of the transportation company’s stock valued at $203,000 after purchasing an additional 616 shares during the period. Institutional investors own 97.73% of the company’s stock.

Insider Activity

In other XPO news, COO David J. Bates purchased 1,880 shares of XPO stock in a transaction that occurred 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 transaction, the chief operating officer now owns 21,106 shares of the company’s stock, valued at approximately $2,240,612.96. This trade represents a 9.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on XPO. Deutsche Bank Aktiengesellschaft started coverage on shares of XPO in a report on Friday, March 7th. They issued a “buy” rating and a $156.00 price objective for the company. Citigroup decreased their target price on shares of XPO from $148.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Raymond James dropped their price target on shares of XPO from $165.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Bank of America boosted their target price on XPO from $119.00 to $139.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company lowered their price objective on shares of XPO from $130.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Nineteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $134.63.

XPO Stock Performance

XPO opened at $123.46 on Wednesday. The firm has a market cap of $14.54 billion, a P/E ratio of 38.22, a PEG ratio of 1.79 and a beta of 1.92. XPO, Inc. has a 1-year low of $85.06 and a 1-year high of $161.00. The company has a 50 day simple moving average of $109.00 and a two-hundred day simple moving average of $124.46. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.06 and a quick ratio of 1.06.

XPO (NYSE:XPO) last released its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.98 billion. XPO had a net margin of 4.81% and a return on equity of 30.36%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Equities analysts forecast that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

XPO announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 27th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board 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.