New York State Common Retirement Fund Trims Stock Position in XPO, Inc. (NYSE:XPO)

New York State Common Retirement Fund lessened its stake in shares of XPO, Inc. (NYSE:XPO) by 33.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 259,746 shares of the transportation company’s stock after selling 128,509 shares during the quarter. New York State Common Retirement Fund owned about 0.22% of XPO worth $22,751,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of XPO. Deutsche Bank AG lifted its position in shares of XPO by 12,894.9% during the 3rd quarter. Deutsche Bank AG now owns 1,304,037 shares of the transportation company’s stock worth $97,359,000 after buying an additional 1,294,002 shares during the last quarter. Eminence Capital LP lifted its position in shares of XPO by 137.4% during the 3rd quarter. Eminence Capital LP now owns 1,191,311 shares of the transportation company’s stock worth $88,943,000 after buying an additional 689,457 shares during the last quarter. Invesco Ltd. increased its holdings in shares of XPO by 76.5% in the 3rd quarter. Invesco Ltd. now owns 1,258,725 shares of the transportation company’s stock valued at $93,976,000 after acquiring an additional 545,485 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of XPO in the 3rd quarter valued at $27,267,000. Finally, Victory Capital Management Inc. increased its holdings in shares of XPO by 1,405.6% in the 3rd quarter. Victory Capital Management Inc. now owns 345,968 shares of the transportation company’s stock valued at $25,830,000 after acquiring an additional 322,989 shares during the period. Hedge funds and other institutional investors own 97.73% of the company’s stock.

XPO Stock Performance

NYSE:XPO opened at $110.92 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.63. XPO, Inc. has a fifty-two week low of $40.69 and a fifty-two week high of $130.51. The stock has a market cap of $12.90 billion, a PE ratio of 68.89, a price-to-earnings-growth ratio of 2.84 and a beta of 2.19. The firm’s fifty day simple moving average is $121.92 and its 200-day simple moving average is $98.87.

XPO (NYSE:XPO) last posted its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. XPO had a net margin of 2.44% and a return on equity of 29.85%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that XPO, Inc. will post 3.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Cowen lifted their target price on shares of XPO from $129.00 to $136.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Morgan Stanley cut shares of XPO from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $75.00 to $80.00 in a report on Monday, February 12th. Citigroup lifted their target price on shares of XPO from $100.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Oppenheimer lifted their target price on shares of XPO from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Barclays lifted their target price on shares of XPO from $100.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.65.

About XPO

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.