Thornburg Investment Management Inc. Reduces Stock Position in XPO, Inc. $XPO

Thornburg Investment Management Inc. lessened its holdings in XPO, Inc. (NYSE:XPO) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 85,061 shares of the transportation company’s stock after selling 2,975 shares during the period. Thornburg Investment Management Inc.’s holdings in XPO were worth $10,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. K.J. Harrison & Partners Inc bought a new position in shares of XPO in the third quarter worth about $634,000. Westfield Capital Management Co. LP increased its position in shares of XPO by 85.0% during the third quarter. Westfield Capital Management Co. LP now owns 694,714 shares of the transportation company’s stock worth $89,806,000 after acquiring an additional 319,093 shares during the period. Primecap Management Co. CA increased its position in shares of XPO by 6.3% during the third quarter. Primecap Management Co. CA now owns 587,534 shares of the transportation company’s stock worth $75,951,000 after acquiring an additional 35,050 shares during the period. Intech Investment Management LLC raised its stake in shares of XPO by 18.1% during the third quarter. Intech Investment Management LLC now owns 57,855 shares of the transportation company’s stock valued at $7,479,000 after acquiring an additional 8,878 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of XPO by 11.4% in the third quarter. US Bancorp DE now owns 22,386 shares of the transportation company’s stock valued at $2,894,000 after purchasing an additional 2,294 shares during the period. 97.73% of the stock is currently owned by institutional investors.

XPO Stock Performance

Shares of XPO stock opened at $198.92 on Thursday. The company has a market capitalization of $23.30 billion, a PE ratio of 75.06, a P/E/G ratio of 2.68 and a beta of 2.01. The company has a 50-day simple moving average of $163.03 and a two-hundred day simple moving average of $143.86. XPO, Inc. has a one year low of $85.06 and a one year high of $212.71. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.05 and a current ratio of 1.05.

XPO (NYSE:XPO) last issued its quarterly earnings data on Thursday, February 5th. The transportation company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. XPO had a net margin of 3.87% and a return on equity of 25.07%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts expect that XPO, Inc. will post 4.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Zacks Research upgraded XPO from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. Truist Financial raised their price target on XPO from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 6th. BMO Capital Markets set a $230.00 price objective on XPO in a report on Thursday, February 19th. Evercore set a $200.00 target price on shares of XPO in a report on Friday, February 6th. Finally, Wolfe Research downgraded shares of XPO from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $178.32.

About XPO

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.