Nissay Asset Management Corp Japan Acquires New Stake in XPO, Inc. $XPO

Nissay Asset Management Corp Japan bought a new position in shares of XPO, Inc. (NYSE:XPO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,407 shares of the transportation company’s stock, valued at approximately $3,163,000.

A number of other institutional investors have also added to or reduced their stakes in XPO. Renaissance Technologies LLC raised its position in XPO by 73.3% during the first quarter. Renaissance Technologies LLC now owns 178,720 shares of the transportation company’s stock valued at $34,770,000 after purchasing an additional 75,600 shares in the last quarter. Border to Coast Pensions Partnership Ltd purchased a new stake in XPO in the first quarter worth approximately $36,048,000. K.J. Harrison & Partners Inc purchased a new stake in XPO in the second quarter worth approximately $4,927,000. MFN Partners Management LP bought a new position in XPO during the second quarter valued at approximately $2,026,148,865. Finally, BlackRock Inc. purchased a new position in shares of XPO during the second quarter worth approximately $2,985,276,000. 97.73% of the stock is currently owned by institutional investors.

XPO Price Performance

Shares of XPO stock opened at $194.30 on Tuesday. The company has a market cap of $22.75 billion, a PE ratio of 57.32, a P/E/G ratio of 1.91 and a beta of 1.85. The business has a 50 day moving average of $203.86 and a 200 day moving average of $205.30. XPO, Inc. has a 52 week low of $121.48 and a 52 week high of $232.05. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.55.

XPO (NYSE:XPO) last issued its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.22. XPO had a net margin of 4.71% and a return on equity of 29.64%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts forecast that XPO, Inc. will post 5.44 earnings per share for the current year.

Insider Transactions at XPO

In other XPO news, CAO Christopher Michael Brown sold 3,750 shares of the firm’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 completion of the sale, the chief accounting officer directly owned 31,005 shares in the company, valued at $6,261,149.70. This trade represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

XPO has been the subject of a number of research reports. Zacks Research raised shares of XPO from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Wells Fargo & Company lifted their price objective on XPO from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. TD Cowen increased their target price on XPO from $224.00 to $228.00 and gave the company a “buy” rating in a report on Friday, July 31st. Citigroup decreased their price target on XPO from $226.00 to $221.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Finally, Susquehanna increased their price objective on XPO from $212.00 to $214.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.