Arizona State Retirement System Boosts Stake in XL Fleet Corp. (NYSE:XL)

Arizona State Retirement System lifted its position in shares of XL Fleet Corp. (NYSE:XLGet Rating) by 50.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,265 shares of the company’s stock after acquiring an additional 9,510 shares during the quarter. Arizona State Retirement System’s holdings in XL Fleet were worth $56,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of XL Fleet by 49,957.3% during the 4th quarter. JPMorgan Chase & Co. now owns 6,884,875 shares of the company’s stock worth $22,788,000 after purchasing an additional 6,871,121 shares during the last quarter. HighTower Advisors LLC acquired a new stake in XL Fleet in the 4th quarter valued at about $934,000. Boston Partners acquired a new stake in XL Fleet in the 4th quarter valued at about $268,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in XL Fleet in the 4th quarter valued at about $231,000. Finally, New Capital Management LP acquired a new stake in XL Fleet in the 1st quarter valued at about $119,000. 28.22% of the stock is owned by hedge funds and other institutional investors.

XL Fleet Price Performance

XL Fleet stock opened at $1.47 on Friday. The firm has a 50 day simple moving average of $1.27 and a 200-day simple moving average of $1.63. XL Fleet Corp. has a 1-year low of $1.07 and a 1-year high of $7.45. The stock has a market cap of $207.87 million, a price-to-earnings ratio of -4.20 and a beta of 0.91.

XL Fleet (NYSE:XLGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.08) earnings per share for the quarter. XL Fleet had a negative net margin of 249.90% and a negative return on equity of 14.60%. The firm had revenue of $4.76 million during the quarter.

Wall Street Analyst Weigh In

Separately, upgraded shares of XL Fleet to a “sell” rating in a report on Tuesday.

XL Fleet Company Profile

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XL Fleet Corp. provides fleet electrification solutions for commercial vehicles in North America. Its products include hybrid electric drive systems are comprised of an electric motor that is mounted onto the vehicle's drive shaft, an inverter motor controller, and a lithium-ion battery pack to store energy to be used for propulsion; plug-in hybrid electric drive system, which are fitted to vehicles.

Further Reading

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Institutional Ownership by Quarter for XL Fleet (NYSE:XL)

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