Hsbc Holdings PLC Invests $13.80 Million in XPO, Inc. $XPO

Hsbc Holdings PLC bought a new stake in XPO, Inc. (NYSE:XPO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 67,313 shares of the transportation company’s stock, valued at approximately $13,804,000. Hsbc Holdings PLC owned approximately 0.06% of XPO as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in XPO in the 2nd quarter worth approximately $2,985,276,000. MFN Partners Management LP acquired a new position in shares of XPO during the second quarter worth $2,026,148,865,000. Invesco Ltd. boosted its stake in shares of XPO by 19.8% in the third quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company’s stock valued at $810,249,000 after purchasing an additional 1,036,434 shares during the period. Durable Capital Partners LP grew its holdings in XPO by 20.5% during the 3rd quarter. Durable Capital Partners LP now owns 4,331,280 shares of the transportation company’s stock valued at $559,905,000 after purchasing an additional 736,224 shares in the last quarter. Finally, Orbis Allan Gray Ltd grew its holdings in XPO by 15.8% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company’s stock valued at $496,423,000 after purchasing an additional 499,220 shares in the last quarter. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on XPO. Barclays boosted their price objective on shares of XPO from $195.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Citigroup lowered their target price on XPO from $226.00 to $221.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Truist Financial set a $240.00 target price on XPO in a research report on Friday, May 1st. Wells Fargo & Company boosted their price target on XPO from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, Zacks Research raised XPO from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.86.

Insider Activity

In other news, CAO Christopher Michael Brown sold 3,750 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total transaction of $757,275.00. Following the completion of the transaction, the chief accounting officer owned 31,005 shares in the company, valued at approximately $6,261,149.70. This represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

XPO Stock Down 0.4%

Shares of XPO stock opened at $191.76 on Friday. The stock has a market capitalization of $22.45 billion, a price-to-earnings ratio of 56.57, a PEG ratio of 1.95 and a beta of 1.85. XPO, Inc. has a twelve month low of $121.48 and a twelve month high of $232.05. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. The business’s 50 day simple moving average is $204.21 and its 200-day simple moving average is $205.47.

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

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.