Tocqueville Asset Management L.P. Takes $16.65 Million Position in XPO, Inc. $XPO

Tocqueville Asset Management L.P. bought a new position in shares of XPO, Inc. (NYSE:XPO) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 81,103 shares of the transportation company’s stock, valued at approximately $16,650,000.

Other hedge funds have also added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new stake in XPO in the 4th quarter valued at $28,000. Torren Management LLC bought a new position in XPO during the 4th quarter worth $37,000. International Assets Investment Management LLC bought a new position in XPO during the 4th quarter worth $41,000. Horizon Investments LLC acquired a new stake in shares of XPO during the third quarter worth $39,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of XPO during the fourth quarter worth $43,000. 97.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at XPO

In related news, CAO Christopher Michael Brown sold 3,750 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allison Landry sold 2,400 shares of XPO stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $215.61, for a total transaction of $517,464.00. Following the completion of the transaction, the director directly owned 4,849 shares in the company, valued at $1,045,492.89. This trade represents a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,400 shares of company stock valued at $1,526,502 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

XPO Stock Down 2.6%

Shares of NYSE XPO opened at $197.45 on Thursday. The stock has a market capitalization of $23.12 billion, a P/E ratio of 58.24, a PEG ratio of 2.06 and a beta of 1.85. The stock’s fifty day moving average is $206.73 and its 200 day moving average is $204.65. XPO, Inc. has a 52 week low of $121.48 and a 52 week high of $232.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.01 and a current ratio of 1.01.

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

Wall Street Analyst Weigh In

Several research firms recently commented on XPO. TD Cowen upped their price target on shares of XPO from $224.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, July 31st. BMO Capital Markets lifted their price objective on shares of XPO from $240.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Stephens boosted their price objective on shares of XPO from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Jefferies Financial Group boosted their price objective on shares of XPO to $275.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Susquehanna increased their target price on shares of XPO from $212.00 to $214.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, XPO currently has a consensus rating of “Moderate Buy” and an average price target of $225.86.

About XPO

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.