Korea Investment CORP Buys New Position in XPO, Inc. $XPO

Korea Investment CORP bought a new stake in XPO, Inc. (NYSE:XPO) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 84,365 shares of the transportation company’s stock, valued at approximately $17,319,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in XPO during the 2nd quarter worth approximately $2,985,276,000. Invesco Ltd. lifted its holdings in XPO by 19.8% during the 3rd quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company’s stock worth $810,249,000 after buying an additional 1,036,434 shares in the last quarter. Durable Capital Partners LP lifted its holdings in XPO by 20.5% during the 3rd quarter. Durable Capital Partners LP now owns 4,331,280 shares of the transportation company’s stock worth $559,905,000 after buying an additional 736,224 shares in the last quarter. Orbis Allan Gray Ltd boosted its position in XPO by 15.8% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company’s stock valued at $496,423,000 after buying an additional 499,220 shares during the period. Finally, Clearbridge Investments LLC boosted its position in XPO by 9.7% in the 4th quarter. Clearbridge Investments LLC now owns 2,970,231 shares of the transportation company’s stock valued at $403,684,000 after buying an additional 261,935 shares during the period. Hedge funds and other institutional investors own 97.73% of the company’s stock.

XPO Stock Performance

Shares of XPO stock opened at $198.74 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. The firm has a fifty day moving average price of $205.54 and a 200 day moving average price of $205.25. The company has a market cap of $23.27 billion, a P/E ratio of 58.63, a PEG ratio of 2.01 and a beta of 1.85. XPO, Inc. has a 12 month low of $121.48 and a 12 month high of $232.05.

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

Insider Activity

In other news, CAO Christopher Michael Brown sold 3,750 shares of the stock in a transaction dated Tuesday, August 11th. The stock was 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. This represents a 10.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison Landry sold 2,400 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $215.61, for a total value of $517,464.00. Following the sale, the director directly owned 4,849 shares in the company, valued at $1,045,492.89. This trade represents a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 7,400 shares of company stock valued at $1,526,502. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

XPO has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $247.00 price objective on shares of XPO in a research report on Thursday, July 30th. Susquehanna lifted their target price on XPO from $212.00 to $214.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Stephens lifted their target price on XPO from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Truist Financial set a $240.00 target price on XPO in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on XPO from $208.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, XPO currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.86.

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.