Renaissance Technologies LLC Increases Holdings in XPO, Inc. $XPO

Renaissance Technologies LLC grew its position in shares of XPO, Inc. (NYSE:XPO) by 73.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 178,720 shares of the transportation company’s stock after acquiring an additional 75,600 shares during the quarter. Renaissance Technologies LLC’s holdings in XPO were worth $34,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of XPO. Durable Capital Partners LP grew its holdings in shares of XPO by 79.3% in the second quarter. Durable Capital Partners LP now owns 3,595,056 shares of the transportation company’s stock worth $454,020,000 after acquiring an additional 1,589,759 shares during the period. Norges Bank purchased a new stake in XPO during the fourth quarter valued at $204,304,000. Bessemer Group Inc. lifted its holdings in XPO by 115.9% in the first quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company’s stock valued at $470,986,000 after acquiring an additional 1,299,480 shares during the period. Invesco Ltd. lifted its holdings in XPO by 19.8% in the third quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company’s stock valued at $810,249,000 after acquiring an additional 1,036,434 shares during the period. Finally, Orbis Allan Gray Ltd boosted its position in XPO by 15.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,652,589 shares of the transportation company’s stock worth $496,423,000 after purchasing an additional 499,220 shares during the last quarter. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

XPO Stock Performance

Shares of XPO opened at $204.68 on Wednesday. The business has a 50-day simple moving average of $210.53 and a two-hundred day simple moving average of $198.53. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. XPO, Inc. has a 52 week low of $116.68 and a 52 week high of $232.05. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of 70.10, a PEG ratio of 2.39 and a beta of 1.85.

XPO (NYSE:XPO) last posted its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. XPO had a return on equity of 26.21% and a net margin of 4.19%.The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. On average, analysts expect that XPO, Inc. will post 4.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on XPO from $236.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. BMO Capital Markets raised their price objective on shares of XPO from $240.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. The Goldman Sachs Group restated a “buy” rating and set a $220.00 target price on shares of XPO in a research report on Thursday, April 30th. Benchmark upped their target price on shares of XPO from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Barclays upped their target price on shares of XPO from $195.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $219.76.

Insider Buying and Selling

In other XPO news, Director Allison Landry sold 2,400 shares of the firm’s 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 in the company, valued at approximately $1,045,492.89. This trade represents a 33.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

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.