Bank of Nova Scotia Makes New Investment in XPO, Inc. $XPO

Bank of Nova Scotia purchased a new stake in XPO, Inc. (NYSE:XPO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,511 shares of the transportation company’s stock, valued at approximately $926,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Daiichi Life Insurance Co. Ltd. bought a new position in XPO in the second quarter valued at about $946,000. Commerce Bank acquired a new position in XPO during the second quarter worth about $583,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of XPO in the second quarter worth about $1,214,000. MFN Partners Management LP bought a new position in shares of XPO in the second quarter worth about $2,026,148,865,000. Finally, Quantbot Technologies LP acquired a new stake in shares of XPO in the 2nd quarter valued at approximately $1,945,000. 97.73% of the stock is currently owned by institutional investors.

XPO Price Performance

Shares of NYSE:XPO opened at $192.82 on Thursday. 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 52 week low of $121.48 and a 52 week high of $232.05. The firm has a market cap of $22.58 billion, a PE ratio of 56.88, a price-to-earnings-growth ratio of 1.95 and a beta of 1.85. The firm’s fifty day moving average is $204.36 and its 200-day moving average is $205.55.

XPO (NYSE:XPO) last posted its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.22. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.28 billion. XPO had a return on equity of 29.64% and a net margin of 4.71%.XPO’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. Sell-side analysts predict that XPO, Inc. will post 5.44 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Christopher Michael Brown sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $201.94, for a total value of $757,275.00. Following the sale, the chief accounting officer directly owned 31,005 shares in the company, valued at $6,261,149.70. This represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on XPO shares. Oppenheimer lifted their price target on shares of XPO from $236.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Raymond James Financial lowered their price target on shares of XPO from $233.00 to $225.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Truist Financial set a $240.00 price target on XPO in a research note on Friday, May 1st. Stifel Nicolaus boosted their price target on XPO from $237.00 to $241.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Benchmark boosted their price target on XPO from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 1st. 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $225.86.

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.