First Trust Advisors LP Lowers Stake in XPO Logistics, Inc. (XPO)
First Trust Advisors LP decreased its stake in XPO Logistics, Inc. (NYSE:XPO) by 11.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 75,773 shares of the transportation company’s stock after selling 9,536 shares during the period. First Trust Advisors LP owned about 0.07% of XPO Logistics worth $4,897,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in XPO. Envestnet Asset Management Inc. boosted its stake in shares of XPO Logistics by 461.3% in the first quarter. Envestnet Asset Management Inc. now owns 2,425 shares of the transportation company’s stock valued at $116,000 after buying an additional 1,993 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of XPO Logistics by 63.5% in the first quarter. Advisors Asset Management Inc. now owns 2,526 shares of the transportation company’s stock valued at $121,000 after buying an additional 981 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of XPO Logistics by 8.8% in the first quarter. Bank of Montreal Can now owns 2,990 shares of the transportation company’s stock valued at $143,000 after buying an additional 241 shares during the last quarter. Boston Advisors LLC bought a new stake in shares of XPO Logistics during the second quarter valued at approximately $212,000. Finally, CIBC Asset Management Inc bought a new stake in shares of XPO Logistics during the second quarter valued at approximately $225,000. Institutional investors and hedge funds own 89.55% of the company’s stock.
Shares of XPO Logistics, Inc. (NYSE:XPO) opened at 61.93 on Friday. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 70.94 and a beta of 2.31. The company has a 50-day moving average price of $58.83 and a 200-day moving average price of $54.74. XPO Logistics, Inc. has a 52-week low of $31.68 and a 52-week high of $65.44.
XPO Logistics (NYSE:XPO) last announced its quarterly earnings data on Wednesday, August 2nd. The transportation company reported $0.60 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.60. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.76 billion. XPO Logistics had a return on equity of 6.49% and a net margin of 0.80%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. On average, equities analysts anticipate that XPO Logistics, Inc. will post $1.92 earnings per share for the current year.
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Several brokerages have issued reports on XPO. Stifel Nicolaus set a $77.00 price target on XPO Logistics and gave the company a “buy” rating in a research note on Wednesday, August 23rd. William Blair reissued an “outperform” rating on shares of XPO Logistics in a research note on Monday, August 7th. BidaskClub lowered XPO Logistics from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Morgan Stanley boosted their price target on XPO Logistics from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, May 8th. Finally, Oppenheimer Holdings, Inc. boosted their price target on XPO Logistics from $63.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. XPO Logistics presently has an average rating of “Buy” and a consensus price target of $66.73.
XPO Logistics Company Profile
XPO Logistics, Inc is a global provider of supply chain solutions. The Company operates in two segments: Transportation and Logistics. The Transportation segment provides freight brokerage, last mile, less-than-truckload (LTL), full truckload and global forwarding services. The Logistics segment provides a range of contract logistics services, including highly engineered and customized solutions, value-added warehousing and distribution, cold chain solutions and other inventory solutions.
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