Allspring Global Investments Holdings LLC Raises Stake in XPO, Inc. (NYSE:XPO)

Allspring Global Investments Holdings LLC raised its position in XPO, Inc. (NYSE:XPO – Get Rating) by 7.1% in the third quarter, Holdings Channel reports. The fund owned 15,770 shares of the transportation company’s stock after buying an additional 1,045 shares during the period. Allspring Global Investments Holdings LLC’s holdings in XPO were worth $702,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in XPO. MFN Partners Management LP raised its holdings in XPO by 54.4% during the second quarter. MFN Partners Management LP now owns 11,119,850 shares of the transportation company’s stock worth $535,532,000 after purchasing an additional 3,919,481 shares in the last quarter. BlackRock Inc. raised its holdings in XPO by 9.9% during the first quarter. BlackRock Inc. now owns 10,049,511 shares of the transportation company’s stock worth $731,604,000 after purchasing an additional 906,295 shares in the last quarter. Vanguard Group Inc. raised its holdings in XPO by 4.7% during the first quarter. Vanguard Group Inc. now owns 9,457,125 shares of the transportation company’s stock worth $688,479,000 after purchasing an additional 424,449 shares in the last quarter. FMR LLC raised its holdings in XPO by 59.9% during the second quarter. FMR LLC now owns 4,680,699 shares of the transportation company’s stock worth $225,423,000 after purchasing an additional 1,752,917 shares in the last quarter. Finally, State Street Corp raised its holdings in XPO by 5.4% during the first quarter. State Street Corp now owns 2,914,235 shares of the transportation company’s stock worth $212,156,000 after purchasing an additional 148,266 shares in the last quarter. Hedge funds and other institutional investors own 89.57% of the company’s stock.

Analysts Set New Price Targets

XPO has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price objective on shares of XPO from $70.00 to $42.00 in a report on Tuesday, December 6th. Benchmark lowered their price objective on shares of XPO to $70.00 in a research report on Thursday, October 13th. UBS Group lowered their price objective on shares of XPO from $79.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Barclays lowered their price objective on shares of XPO from $65.00 to $45.00 in a research report on Friday, December 16th. Finally, Oppenheimer lowered their price objective on shares of XPO from $87.00 to $45.00 in a research report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.81.

XPO Stock Up 2.6 %

XPO opened at $37.75 on Monday. The firm has a 50 day moving average price of $36.40 and a 200 day moving average price of $45.18. The company has a market cap of $4.35 billion, a PE ratio of 4.95, a price-to-earnings-growth ratio of 1.38 and a beta of 2.05. XPO, Inc. has a 1 year low of $24.51 and a 1 year high of $46.84. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.16 and a current ratio of 1.16.

XPO (NYSE:XPO – Get Rating) last posted its earnings results on Monday, October 31st. The transportation company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.10 billion. XPO had a net margin of 6.73% and a return on equity of 43.47%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. Sell-side analysts expect that XPO, Inc. will post 3.39 earnings per share for the current year.

XPO Company Profile

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XPO Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and Brokerage and Other Services. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite regional, inter-regional, and transcontinental LTL freight services.