MFN Partners Management LP Acquires Shares of 9,869,691 XPO, Inc. $XPO

MFN Partners Management LP acquired a new position in shares of XPO, Inc. (NYSE:XPO) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 9,869,691 shares of the transportation company’s stock, valued at approximately $2,026,148,865,000. XPO makes up about 41.9% of MFN Partners Management LP’s holdings, making the stock its biggest holding. MFN Partners Management LP owned approximately 0.08% of XPO as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in XPO in the 2nd quarter valued at about $2,985,276,000. Durable Capital Partners LP boosted its stake in 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 buying an additional 1,589,759 shares during the period. Norges Bank bought a new stake in shares of XPO during the 4th quarter valued at about $204,304,000. Bessemer Group Inc. grew its stake in XPO by 115.9% in the 1st quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company’s stock worth $470,986,000 after buying an additional 1,299,480 shares in the last quarter. Finally, Findlay Park Partners LLP purchased a new position in XPO in the second quarter worth $236,104,000. 97.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at XPO

In other XPO news, CAO Christopher Michael Brown sold 3,750 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total value of $757,275.00. Following the transaction, the chief accounting officer owned 31,005 shares in the company, valued at approximately $6,261,149.70. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 7,400 shares of company stock worth $1,526,502. 0.87% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on XPO. TD Cowen raised their price objective on XPO from $224.00 to $228.00 and gave the company a “buy” rating in a report on Friday, July 31st. Stifel Nicolaus upped their target price on XPO from $237.00 to $241.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Raymond James Financial reduced their price target on shares of XPO from $233.00 to $225.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Stephens boosted their price objective on shares of XPO from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Zacks Research raised shares of XPO from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, XPO currently has a consensus rating of “Moderate Buy” and an average target price of $225.86.

XPO Price Performance

XPO opened at $198.74 on Friday. The stock’s 50 day simple moving average is $205.54 and its 200 day simple moving average is $204.95. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.01 and a quick ratio of 1.01. XPO, Inc. has a 1 year low of $121.48 and a 1 year high of $232.05. The firm has a market cap of $23.27 billion, a price-to-earnings ratio of 58.63, a PEG ratio of 2.01 and a beta of 1.85.

XPO (NYSE:XPO) last announced its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.22. The firm 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%.The business’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, analysts predict that XPO, Inc. will post 5.44 earnings per share for the current year.

XPO 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.