NewEdge Wealth LLC Purchases Shares of 3,684 XPO, Inc. $XPO

NewEdge Wealth LLC acquired a new position in XPO, Inc. (NYSE:XPO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,684 shares of the transportation company’s stock, valued at approximately $756,000.

A number of other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in shares of XPO by 73.3% in the 1st quarter. Renaissance Technologies LLC now owns 178,720 shares of the transportation company’s stock worth $34,770,000 after acquiring an additional 75,600 shares during the last quarter. Border to Coast Pensions Partnership Ltd purchased a new position in shares of XPO during the first quarter valued at about $36,048,000. K.J. Harrison & Partners Inc bought a new stake in shares of XPO during the second quarter valued at approximately $4,927,000. Bank of New York Mellon Corp boosted its stake in XPO by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 716,747 shares of the transportation company’s stock worth $139,443,000 after acquiring an additional 6,167 shares in the last quarter. Finally, BlackRock Inc. purchased a new position in XPO during the second quarter valued at $2,985,276,000. Hedge funds and other institutional investors own 97.73% of the company’s stock.

XPO Stock Up 1.0%

XPO opened at $198.74 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. XPO, Inc. has a 1-year low of $121.48 and a 1-year high of $232.05. The company has a market capitalization of $23.27 billion, a PE ratio of 58.63, a PEG ratio of 2.01 and a beta of 1.85. The firm’s 50 day simple moving average is $205.54 and its two-hundred day simple moving average is $204.95.

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

Insider Activity at XPO

In other XPO news, CAO Christopher Michael Brown sold 3,750 shares of the firm’s 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison Landry sold 2,400 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $215.61, for a total transaction of $517,464.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,400 shares of company stock valued at $1,526,502 over the last three months. 0.87% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on XPO. Bank of America increased their price target on shares of XPO from $244.00 to $246.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Truist Financial set a $240.00 target price on XPO in a report on Friday, May 1st. Stephens increased their price objective on XPO from $255.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $247.00 target price on shares of XPO in a research report on Thursday, July 30th. Finally, TD Cowen raised their price target on shares of XPO from $224.00 to $228.00 and gave the company a “buy” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.86.

XPO Company 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.