XPO, Inc. (NYSE:XPO) Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP cut its stake in shares of XPO, Inc. (NYSE:XPO) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,235 shares of the transportation company’s stock after selling 2,547 shares during the quarter. Baker Avenue Asset Management LP’s holdings in XPO were worth $2,260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC grew its stake in XPO by 57.3% during the 4th quarter. LPL Financial LLC now owns 74,250 shares of the transportation company’s stock worth $9,738,000 after buying an additional 27,034 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of XPO by 40.0% during the fourth quarter. Renaissance Technologies LLC now owns 237,420 shares of the transportation company’s stock worth $31,138,000 after acquiring an additional 67,800 shares during the last quarter. Natixis Advisors LLC grew its position in shares of XPO by 42.8% during the fourth quarter. Natixis Advisors LLC now owns 61,414 shares of the transportation company’s stock worth $8,054,000 after acquiring an additional 18,398 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of XPO in the 4th quarter worth about $423,000. Finally, Invesco Ltd. lifted its position in XPO by 29.6% in the 4th quarter. Invesco Ltd. now owns 1,863,278 shares of the transportation company’s stock valued at $244,369,000 after purchasing an additional 425,678 shares during the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other XPO 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 price of $106.16 per share, with a total value of $199,580.80. Following the completion of the transaction, the chief operating officer now directly owns 21,106 shares in the company, valued at approximately $2,240,612.96. This represents a 9.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Benchmark raised their price target on shares of XPO from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Oppenheimer lowered their target price on XPO from $142.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday. Evercore ISI boosted their price target on XPO from $115.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial lowered their price target on XPO from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Vertical Research raised shares of XPO from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Thursday, March 6th. Nineteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $135.79.

XPO Trading Up 5.6 %

Shares of NYSE XPO opened at $109.80 on Monday. The business has a fifty day simple moving average of $104.98 and a 200-day simple moving average of $127.58. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 33.99, a P/E/G 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 quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08.

XPO (NYSE:XPO) last announced its earnings results on Wednesday, April 30th. The transportation company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. XPO had a net margin of 4.81% and a return on equity of 30.36%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts predict that XPO, Inc. will post 4.15 EPS for the current year.

XPO announced that its Board of Directors has approved a share buyback program on Thursday, March 27th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the transportation company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

XPO Profile

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.