Formula Growth Ltd. Purchases Shares of 23,000 XPO, Inc. $XPO

Formula Growth Ltd. purchased a new position in XPO, Inc. (NYSE:XPO) in the second quarter, HoldingsChannel reports. The firm purchased 23,000 shares of the transportation company’s stock, valued at approximately $4,722,000. XPO accounts for 1.7% of Formula Growth Ltd.’s portfolio, making the stock its 8th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of XPO during the 2nd quarter valued at $2,985,276,000. MFN Partners Management LP purchased a new stake in XPO in the 2nd quarter worth $2,026,148,865,000. Durable Capital Partners LP raised its holdings in XPO by 79.3% during the second quarter. Durable Capital Partners LP now owns 3,595,056 shares of the transportation company’s stock valued at $454,020,000 after acquiring an additional 1,589,759 shares during the period. Norges Bank bought a new stake in XPO during the fourth quarter valued at about $204,304,000. Finally, Bessemer Group Inc. raised its holdings in XPO by 115.9% during the first quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company’s stock valued at $470,986,000 after acquiring an additional 1,299,480 shares during the period. 97.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial set a $240.00 price objective on XPO in a research note on Friday, May 1st. Zacks Research raised XPO from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Bank of America lifted their target price on XPO from $244.00 to $246.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Citigroup lowered their price target on XPO from $226.00 to $221.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, Oppenheimer upped their price target on XPO from $236.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.86.

XPO Stock Performance

Shares of NYSE XPO opened at $191.76 on Friday. The company has a market cap of $22.45 billion, a P/E ratio of 56.57, a P/E/G ratio of 1.95 and a beta of 1.85. 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. The firm’s fifty day moving average is $204.21 and its two-hundred day moving average is $205.47.

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

Insider Activity at XPO

In related news, 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 directly owned 31,005 shares in the company, valued at approximately $6,261,149.70. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

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.