XPO Logistics, Inc. (XPO) Shares Bought by Legal & General Group Plc
Legal & General Group Plc grew its stake in XPO Logistics, Inc. (NYSE:XPO) by 14.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,997 shares of the transportation company’s stock after buying an additional 5,623 shares during the period. Legal & General Group Plc’s holdings in XPO Logistics were worth $2,909,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State of Wisconsin Investment Board purchased a new position in shares of XPO Logistics in the second quarter worth $1,423,000. Fishman Jay A Ltd. MI raised its holdings in shares of XPO Logistics by 12.1% in the second quarter. Fishman Jay A Ltd. MI now owns 219,091 shares of the transportation company’s stock worth $14,160,000 after buying an additional 23,616 shares during the last quarter. LMR Partners LLP purchased a new position in shares of XPO Logistics in the second quarter worth $7,293,000. Advisors Asset Management Inc. raised its holdings in shares of XPO Logistics by 18.4% in the second quarter. Advisors Asset Management Inc. now owns 2,992 shares of the transportation company’s stock worth $193,000 after buying an additional 466 shares during the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in shares of XPO Logistics in the second quarter worth $407,000. 89.54% of the stock is owned by institutional investors and hedge funds.
XPO has been the subject of a number of research analyst reports. Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 price target on shares of XPO Logistics in a report on Monday, May 22nd. Deutsche Bank AG reissued a “buy” rating and set a $75.00 target price on shares of XPO Logistics in a report on Monday, June 5th. BidaskClub raised shares of XPO Logistics from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Bank of America Corporation started coverage on shares of XPO Logistics in a report on Wednesday, June 28th. They set a “buy” rating and a $72.00 target price for the company. Finally, KeyCorp raised their target price on shares of XPO Logistics from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $67.33.
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Shares of XPO Logistics, Inc. (NYSE XPO) opened at 61.34 on Tuesday. XPO Logistics, Inc. has a 12 month low of $31.68 and a 12 month high of $65.44. The stock has a 50 day moving average of $58.83 and a 200 day moving average of $55.60. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 70.26 and a beta of 2.28.
XPO Logistics (NYSE:XPO) last released its quarterly earnings results on Wednesday, August 2nd. The transportation company reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. XPO Logistics had a net margin of 0.80% and a return on equity of 6.49%. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that XPO Logistics, Inc. will post $1.91 EPS for the current fiscal year.
About XPO Logistics
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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