Forge First Asset Management Inc. Makes New $6.08 Million Investment in XPO, Inc. $XPO

Forge First Asset Management Inc. bought a new position in shares of XPO, Inc. (NYSE:XPO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 48,100 shares of the transportation company’s stock, valued at approximately $6,079,000. XPO accounts for about 2.2% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 17th biggest holding.

A number of other hedge funds have also recently made changes to their positions in XPO. SouthState Corp bought a new stake in XPO during the 1st quarter valued at about $25,000. RMG Wealth Management LLC bought a new position in XPO in the 2nd quarter worth about $26,000. FNY Investment Advisers LLC purchased a new position in shares of XPO during the second quarter worth approximately $42,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of XPO by 46.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 351 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 111 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of XPO by 58.7% during the second quarter. Bessemer Group Inc. now owns 403 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 149 shares in the last quarter. 97.73% of the stock is currently owned by institutional investors.

XPO Price Performance

XPO opened at $128.82 on Wednesday. The firm has a market capitalization of $15.12 billion, a PE ratio of 44.57, a price-to-earnings-growth ratio of 2.51 and a beta of 1.99. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.01 and a quick ratio of 1.02. The business’s 50-day moving average is $132.17 and its two-hundred day moving average is $127.69. XPO, Inc. has a 1 year low of $85.06 and a 1 year high of $161.00.

XPO (NYSE:XPO) last released its quarterly earnings results on Tuesday, April 11th. The transportation company reported $0.64 EPS for the quarter. XPO had a net margin of 4.32% and a return on equity of 26.48%. The business had revenue of ($2,243.00) million during the quarter. Research analysts anticipate that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

XPO has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on XPO from $84.00 to $83.00 and set an “underweight” rating on the stock in a research note on Monday, October 6th. Truist Financial set a $145.00 target price on XPO in a report on Tuesday, October 14th. Barclays raised their price target on XPO from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company upped their price objective on shares of XPO from $144.00 to $147.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Susquehanna reiterated a “positive” rating and set a $162.00 target price on shares of XPO in a report on Friday, October 31st. Twenty equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.15.

Insider Transactions at XPO

In other news, Director Allison Landry sold 3,250 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $135.04, for a total transaction of $438,880.00. Following the transaction, the director directly owned 5,875 shares of the company’s stock, valued at approximately $793,360. This represents a 35.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

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.