Meiji Yasuda Asset Management Co Ltd. Acquires Shares of 2,973 XPO, Inc. $XPO

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in XPO, Inc. (NYSE:XPO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,973 shares of the transportation company’s stock, valued at approximately $610,000.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in XPO in the 2nd quarter worth about $2,985,276,000. MFN Partners Management LP acquired a new position in shares of XPO during the second quarter valued at approximately $2,026,148,865,000. Durable Capital Partners LP raised its holdings in shares of 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 last quarter. Norges Bank purchased a new position in shares of XPO in the fourth quarter valued at approximately $204,304,000. Finally, Bessemer Group Inc. lifted its position in shares of XPO by 115.9% in 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 in the last quarter. 97.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Christopher Michael Brown sold 3,750 shares of the firm’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 sale, the chief accounting officer directly owned 31,005 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, Director Allison Landry sold 2,400 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $215.61, for a total transaction of $517,464.00. Following the completion of the transaction, the director owned 4,849 shares in the company, valued at $1,045,492.89. The trade was a 33.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 7,400 shares of company stock worth $1,526,502. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $247.00 price target on shares of XPO in a research report on Thursday, July 30th. Citigroup decreased their price objective on XPO from $226.00 to $221.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. BMO Capital Markets lifted their target price on shares of XPO from $240.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Weiss Ratings raised shares of XPO from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Truist Financial set a $240.00 target price on shares of XPO in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, XPO presently has a consensus rating of “Moderate Buy” and an average price target of $225.86.

XPO Stock Performance

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

XPO (NYSE:XPO) last issued its earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $2.28 billion. During the same period last year, the company earned $1.05 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, research analysts anticipate that XPO, Inc. will post 5.44 earnings per share for the current year.

XPO Company 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.