Fred Alger Management LLC Cuts Position in XPO, Inc. (NYSE:XPO)

Fred Alger Management LLC lessened its stake in XPO, Inc. (NYSE:XPO – Get Rating) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 257,299 shares of the transportation company’s stock after selling 6,919 shares during the quarter. Fred Alger Management LLC’s holdings in XPO were worth $11,455,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. United Services Automobile Association increased its holdings in XPO by 14.4% during the 3rd quarter. United Services Automobile Association now owns 12,072 shares of the transportation company’s stock valued at $537,000 after acquiring an additional 1,518 shares in the last quarter. Alliancebernstein L.P. increased its holdings in XPO by 5.2% during the 3rd quarter. Alliancebernstein L.P. now owns 3,018,916 shares of the transportation company’s stock valued at $134,402,000 after acquiring an additional 149,421 shares in the last quarter. State Street Corp increased its holdings in XPO by 7.8% during the 3rd quarter. State Street Corp now owns 3,127,854 shares of the transportation company’s stock valued at $139,252,000 after acquiring an additional 226,517 shares in the last quarter. Resources Management Corp CT ADV boosted its stake in shares of XPO by 6.2% during the 3rd quarter. Resources Management Corp CT ADV now owns 22,966 shares of the transportation company’s stock worth $1,022,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of XPO by 67.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 85,521 shares of the transportation company’s stock worth $3,807,000 after purchasing an additional 34,556 shares during the last quarter. 89.57% of the stock is currently owned by hedge funds and other institutional investors.

XPO Stock Up 0.3 %

Shares of NYSE:XPO opened at $32.70 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44. The company has a fifty day simple moving average of $37.27 and a 200 day simple moving average of $40.63. The firm has a market cap of $3.78 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 1.45 and a beta of 2.15. XPO, Inc. has a 12-month low of $24.51 and a 12-month high of $46.84.

XPO (NYSE:XPO – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The transportation company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.84 billion. XPO had a net margin of 5.75% and a return on equity of 41.62%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. On average, equities research analysts anticipate that XPO, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on XPO shares. StockNews.com cut shares of XPO from a “buy” rating to a “hold” rating in a research note on Monday, February 6th. Jefferies Financial Group cut shares of XPO from a “buy” rating to a “hold” rating and decreased their price target for the stock from $42.00 to $40.00 in a research note on Friday, February 10th. Oppenheimer decreased their price target on shares of XPO from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, February 13th. KeyCorp decreased their target price on shares of XPO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, February 10th. Finally, Bank of America cut shares of XPO from a “neutral” rating to an “underperform” rating and set a $35.00 target price on the stock. in a research report on Tuesday, January 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.50.

Insider Buying and Selling

In related news, Director J Wes Frye purchased 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was acquired at an average price of $35.74 per share, for a total transaction of $53,610.00. Following the completion of the purchase, the director now owns 1,500 shares in the company, valued at $53,610. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 11.20% of the company’s stock.

About XPO

(Get Rating)

XPO, Inc engages in the provision of freight transportation services. It operates through North American Less-Than-Truckload and European Transportation segments. The North American Less-Than-Truckload segment includes cross-border U.S. service to and from Mexico and Canada, as well as intra-Canada service.