Formula Growth Ltd. Reduces Holdings in XPO, Inc. (NYSE:XPO)

Formula Growth Ltd. lessened its holdings in XPO, Inc. (NYSE:XPO) by 10.4% during the 4th quarter, Holdings Channel reports. The firm owned 30,000 shares of the transportation company’s stock after selling 3,500 shares during the quarter. XPO comprises 1.3% of Formula Growth Ltd.’s investment portfolio, making the stock its 25th biggest holding. Formula Growth Ltd.’s holdings in XPO were worth $3,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Versant Capital Management Inc acquired a new position in shares of XPO during the 4th quarter worth approximately $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of XPO in the fourth quarter worth $42,000. Cullen Frost Bankers Inc. lifted its position in shares of XPO by 69.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company’s stock valued at $42,000 after acquiring an additional 130 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of XPO by 25.6% during the fourth quarter. Larson Financial Group LLC now owns 373 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 76 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of XPO by 19.0% during the fourth quarter. UMB Bank n.a. now owns 538 shares of the transportation company’s stock valued at $71,000 after acquiring an additional 86 shares during the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.

XPO Trading Up 3.4 %

NYSE:XPO opened at $96.67 on Friday. The business’s 50-day moving average is $112.17 and its two-hundred day moving average is $128.07. The firm has a market capitalization of $11.39 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 1.79 and a beta of 2.05. XPO, Inc. has a 12 month low of $85.06 and a 12 month high of $161.00. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.06 and a quick ratio of 1.06.

XPO (NYSE:XPO) last announced its earnings results on Thursday, February 6th. The transportation company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. Research analysts predict that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

XPO declared that its board has authorized a share repurchase plan on Thursday, March 27th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the transportation company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on XPO shares. Jefferies Financial Group reduced their target price on shares of XPO from $170.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Vertical Research upgraded shares of XPO from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 6th. Bank of America cut their price target on XPO from $150.00 to $131.00 and set a “buy” rating for the company in a report on Friday, March 28th. Barclays decreased their price objective on XPO from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company dropped their target price on XPO from $170.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Nineteen analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $139.89.

Insider Activity

In other news, COO David J. Bates bought 1,880 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $106.16 per share, for a total transaction of $199,580.80. Following the completion of the purchase, the chief operating officer now owns 21,106 shares of the company’s stock, valued at $2,240,612.96. This trade represents a 9.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

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.