Castleark Management LLC Acquires Shares of 57,079 XPO, Inc. $XPO

Castleark Management LLC bought a new stake in shares of XPO, Inc. (NYSE:XPO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 57,079 shares of the transportation company’s stock, valued at approximately $11,718,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. acquired a new stake in XPO during the second quarter worth about $2,985,276,000. MFN Partners Management LP bought a new stake in shares of XPO during the 2nd quarter worth approximately $2,026,148,865,000. Invesco Ltd. lifted its holdings in shares of XPO by 19.8% during the 3rd quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company’s stock worth $810,249,000 after acquiring an additional 1,036,434 shares during the period. Durable Capital Partners LP boosted its position in shares of XPO by 20.5% during the 3rd quarter. Durable Capital Partners LP now owns 4,331,280 shares of the transportation company’s stock worth $559,905,000 after acquiring an additional 736,224 shares in the last quarter. Finally, Orbis Allan Gray Ltd boosted its position in shares of XPO by 15.8% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company’s stock worth $496,423,000 after acquiring an additional 499,220 shares in the last quarter. Institutional investors and hedge funds own 97.73% of the company’s stock.

XPO Stock Performance

Shares of XPO stock opened at $192.37 on Wednesday. The company’s 50 day moving average price is $204.54 and its two-hundred day moving average price is $205.50. The firm has a market capitalization of $22.52 billion, a P/E ratio of 56.75, a P/E/G ratio of 1.95 and a beta of 1.85. XPO, Inc. has a fifty-two week low of $121.48 and a fifty-two week high of $232.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.01 and a quick ratio of 1.01.

XPO (NYSE:XPO) last announced its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.22. XPO had a net margin of 4.71% and a return on equity of 29.64%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities analysts forecast that XPO, Inc. will post 5.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Allison Landry sold 2,400 shares of XPO stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $215.61, for a total transaction of $517,464.00. Following the sale, the director directly owned 4,849 shares of the company’s stock, valued at approximately $1,045,492.89. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christopher Michael Brown sold 3,750 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $201.94, for a total value of $757,275.00. Following the sale, the chief accounting officer owned 31,005 shares in the company, valued at approximately $6,261,149.70. This trade represents a 10.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,400 shares of company stock worth $1,526,502 in the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

XPO has been the subject of several research analyst reports. TD Cowen boosted their price objective on shares of XPO from $224.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, July 31st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $247.00 target price on shares of XPO in a report on Thursday, July 30th. Citizens Jmp began coverage on XPO in a research note on Wednesday, July 15th. They issued a “market perform” rating on the stock. Citigroup lowered their price target on XPO from $226.00 to $221.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Finally, Evercore upgraded XPO from an “in-line” rating to an “outperform” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, XPO has an average rating of “Moderate Buy” and a consensus price target of $225.86.

XPO Profile

XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company’s operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.

In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.