Primecap Management Co. CA Buys New Position in XPO, Inc. $XPO

Primecap Management Co. CA bought a new stake in XPO, Inc. (NYSE:XPO) during the second quarter, HoldingsChannel.com reports. The fund bought 568,334 shares of the transportation company’s stock, valued at approximately $116,673,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XPO. Canada Pension Plan Investment Board purchased a new stake in shares of XPO during the second quarter worth about $6,467,000. Castleark Management LLC acquired a new position in shares of XPO in the second quarter valued at approximately $11,718,000. Nicholas Investment Partners LP acquired a new position in shares of XPO in the second quarter valued at approximately $13,053,000. Legal & General Group Plc purchased a new position in shares of XPO during the second quarter valued at approximately $72,284,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in XPO during the second quarter worth approximately $11,103,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on XPO. Benchmark lifted their target price on shares of XPO from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. The Goldman Sachs Group reissued a “buy” rating and set a $247.00 price target on shares of XPO in a research note on Thursday, July 30th. Wells Fargo & Company lifted their price objective on XPO from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Citigroup dropped 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. Finally, UBS Group upped their target price on XPO from $236.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.86.

XPO Trading Up 0.2%

Shares of XPO stock opened at $192.37 on Wednesday. The stock has a market cap of $22.52 billion, a price-to-earnings ratio of 56.75, a price-to-earnings-growth ratio of 1.95 and a beta of 1.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.55. XPO, Inc. has a fifty-two week low of $121.48 and a fifty-two week high of $232.05. The firm’s 50 day moving average price is $204.54 and its two-hundred day moving average price is $205.50.

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, topping the consensus estimate of $1.48 by $0.22. XPO had a net margin of 4.71% and a return on equity of 29.64%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, analysts anticipate that XPO, Inc. will post 5.44 EPS for the current year.

Insiders Place Their Bets

In other XPO news, CAO Christopher Michael Brown sold 3,750 shares of the firm’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 transaction, the chief accounting officer directly owned 31,005 shares of the company’s stock, valued at $6,261,149.70. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allison Landry sold 2,400 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $215.61, for a total value of $517,464.00. Following the transaction, the director owned 4,849 shares in the company, valued at approximately $1,045,492.89. This represents a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 7,400 shares of company stock valued at $1,526,502. 0.87% of the stock is owned by corporate insiders.

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.