Meiji Yasuda Asset Management Co Ltd. Invests $610,000 in XPO, Inc. $XPO

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of XPO, Inc. (NYSE:XPO) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,973 shares of the transportation company’s stock, valued at approximately $610,000.

Other large investors also recently bought and sold shares of the company. Bank of Nova Scotia acquired a new stake in shares of XPO during the second quarter valued at about $926,000. Daiichi Life Insurance Co. Ltd. acquired a new position in shares of XPO in the 2nd quarter worth approximately $946,000. Commerce Bank purchased a new position in shares of XPO during the 2nd quarter worth approximately $583,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of XPO during the 2nd quarter worth approximately $1,214,000. Finally, MFN Partners Management LP acquired a new stake in XPO in the 2nd quarter valued at approximately $2,026,148,865,000. Institutional investors and hedge funds own 97.73% of the company’s stock.

XPO Stock Performance

Shares of XPO stock opened at $192.37 on Wednesday. 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, Inc. has a 52 week low of $121.48 and a 52 week high of $232.05. The stock has a market capitalization of $22.52 billion, a PE ratio of 56.75, a P/E/G ratio of 1.95 and a beta of 1.85. The firm has a 50 day moving average of $204.54 and a two-hundred day moving average of $205.50.

XPO (NYSE:XPO) last posted its quarterly earnings data on Thursday, July 30th. The transportation company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.22. XPO had a return on equity of 29.64% and a net margin of 4.71%.The business 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 earned $1.05 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis. On average, research analysts predict that XPO, Inc. will post 5.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other XPO news, Director Allison Landry sold 2,400 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was 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 in the company, valued at $1,045,492.89. This represents a 33.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher Michael Brown sold 3,750 shares of the 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 represents a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 7,400 shares of company stock valued at $1,526,502. 0.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings raised XPO from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their price target on XPO from $208.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Bank of America lifted their price objective on XPO from $244.00 to $246.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Susquehanna boosted their price objective on XPO from $212.00 to $214.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Truist Financial set a $240.00 target price on XPO in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.