Nicholas Investment Partners LP Invests $13.05 Million in XPO, Inc. $XPO

Nicholas Investment Partners LP acquired a new position in shares of XPO, Inc. (NYSE:XPO) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 63,583 shares of the transportation company’s stock, valued at approximately $13,053,000. Nicholas Investment Partners LP owned about 0.05% of XPO at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in XPO. BlackRock Inc. bought a new position in XPO in the second quarter worth about $2,985,276,000. MFN Partners Management LP bought a new stake in shares of XPO in the 2nd quarter valued at about $2,026,148,865,000. Invesco Ltd. boosted its holdings in shares of XPO by 19.8% in the 3rd quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company’s stock valued at $810,249,000 after buying an additional 1,036,434 shares in the last quarter. Durable Capital Partners LP grew its position in shares of XPO by 20.5% in 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 during the last quarter. Finally, Orbis Allan Gray Ltd grew its position in shares of XPO by 15.8% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company’s stock worth $496,423,000 after buying an additional 499,220 shares during the last quarter. Institutional investors own 97.73% of the company’s stock.

XPO Trading Down 2.9%

Shares of XPO stock opened at $192.09 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. XPO, Inc. has a 12-month low of $121.48 and a 12-month high of $232.05. The firm has a market capitalization of $22.49 billion, a price-to-earnings ratio of 56.66, a PEG ratio of 2.01 and a beta of 1.85. The firm’s 50 day simple moving average is $204.98 and its two-hundred day simple moving average is $205.41.

XPO (NYSE:XPO) last posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company posted $1.05 earnings per share. The business’s quarterly revenue was up 13.2% on a year-over-year basis. Analysts predict that XPO, Inc. will post 5.44 EPS for the current year.

Insider Buying and Selling

In related news, CAO Christopher Michael Brown sold 3,750 shares of the stock in a transaction that occurred on 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. This represents a 10.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allison Landry sold 2,400 shares of XPO stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $215.61, for a total transaction of $517,464.00. Following the sale, the director owned 4,849 shares of the company’s stock, valued at approximately $1,045,492.89. The trade was a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,400 shares of company stock worth $1,526,502. 0.87% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on XPO shares. BMO Capital Markets boosted their price objective on shares of XPO from $240.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Bank of America raised their target price on shares of XPO from $244.00 to $246.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $247.00 price target on shares of XPO in a report on Thursday, July 30th. Morgan Stanley set a $105.00 price target on XPO and gave the stock an “underweight” rating in a research report on Friday, May 1st. Finally, Raymond James Financial decreased their price objective on XPO from $233.00 to $225.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.