XPO, Inc. $XPO Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in shares of XPO, Inc. (NYSE:XPO) by 97.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 157,227 shares of the transportation company’s stock after buying an additional 77,478 shares during the period. Pictet Asset Management Holding SA owned about 0.13% of XPO worth $27,669,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Compass Wealth Management LLC acquired a new stake in XPO during the third quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new position in XPO in the second quarter valued at approximately $32,000. Transamerica Financial Advisors LLC acquired a new position in XPO in the second quarter valued at approximately $32,000. Lynch Investment Planning LLC acquired a new position in XPO in the third quarter valued at approximately $33,000. Finally, Reyes Financial Architecture Inc. acquired a new position in XPO in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 97.73% of the company’s stock.

XPO Stock Performance

NYSE XPO opened at $188.65 on Thursday. The stock has a market capitalization of $21.98 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 1.72 and a beta of 1.87. XPO, Inc. has a twelve month low of $124.82 and a twelve month high of $232.05. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.52. The stock has a 50-day moving average of $182.88 and a 200 day moving average of $197.64.

XPO (NYSE:XPO) last issued its quarterly earnings results on Thursday, October 29th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.12. XPO had a return on equity of 32.80% and a net margin of 5.69%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. XPO’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts anticipate that XPO, Inc. will post 5.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on XPO. Susquehanna dropped their price objective on shares of XPO from $225.00 to $194.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Citizens Jmp initiated coverage on shares of XPO in a report on Wednesday, July 15th. They set a “market perform” rating for the company. BMO Capital Markets reiterated an “outperform” rating on shares of XPO in a research note on Wednesday, October 7th. JPMorgan Chase & Co. increased their price target on shares of XPO from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Finally, Raymond James Financial reissued an “outperform” rating and set a $210.00 price target on shares of XPO in a report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, XPO presently has an average rating of “Moderate Buy” and a consensus price target of $221.45.

Insider Activity at XPO

In related news, COO David J. Bates sold 2,615 shares of XPO stock in a transaction on Monday, September 14th. The shares were sold at an average price of $179.41, for a total value of $469,157.15. Following the sale, the chief operating officer owned 64,735 shares of the company’s stock, valued at approximately $11,614,106.35. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Wismans sold 750 shares of XPO stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $191.62, for a total transaction of $143,715.00. Following the completion of the sale, the chief financial officer directly owned 47,216 shares in the company, valued at $9,047,529.92. This represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 10,095 shares of company stock valued at $1,851,171. Corporate insiders own 0.87% of the company’s stock.

XPO Profile

XPO Inc. is a transportation company focused on less-than-truckload (LTL) shipping in North America. Its network combines freight from multiple customers into shared truckloads, serving businesses that need to ship goods too large for parcel delivery but not large enough to fill an entire trailer. The company provides pickup and delivery, linehaul transportation between service centers, and related freight-handling services. Its operations primarily serve customers in the United States, with cross-border coverage in Canada and Mexico.