Allspring Global Investments Holdings LLC Reduces Stock Position in XPO, Inc. (NYSE:XPO)

Allspring Global Investments Holdings LLC cut its holdings in shares of XPO, Inc. (NYSE:XPO) by 59.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,200 shares of the transportation company’s stock after selling 7,737 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in XPO were worth $455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in XPO by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 10,794,892 shares of the transportation company’s stock worth $805,947,000 after purchasing an additional 54,528 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of XPO by 12,894.9% in the 3rd quarter. Deutsche Bank AG now owns 1,304,037 shares of the transportation company’s stock valued at $97,359,000 after acquiring an additional 1,294,002 shares during the last quarter. Invesco Ltd. increased its holdings in shares of XPO by 76.5% in the 3rd quarter. Invesco Ltd. now owns 1,258,725 shares of the transportation company’s stock valued at $93,976,000 after acquiring an additional 545,485 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of XPO by 14.1% in the 3rd quarter. Federated Hermes Inc. now owns 1,197,431 shares of the transportation company’s stock valued at $89,400,000 after acquiring an additional 147,868 shares during the last quarter. Finally, Eminence Capital LP increased its holdings in shares of XPO by 137.4% in the 3rd quarter. Eminence Capital LP now owns 1,191,311 shares of the transportation company’s stock valued at $88,943,000 after acquiring an additional 689,457 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 NYSE XPO opened at $118.24 on Friday. XPO, Inc. has a 1 year low of $40.69 and a 1 year high of $130.51. The firm has a market cap of $13.75 billion, a P/E ratio of 73.44, a PEG ratio of 2.90 and a beta of 2.19. The stock has a fifty day moving average price of $122.11 and a two-hundred day moving average price of $98.65. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.00 and a current ratio of 1.00.

XPO (NYSE:XPO) last released its earnings results on Wednesday, February 7th. The transportation company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. XPO had a return on equity of 29.85% and a net margin of 2.44%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company earned $0.98 earnings per share. XPO’s revenue was up 6.0% compared to the same quarter last year. Research analysts forecast that XPO, Inc. will post 3.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on XPO. TD Cowen boosted their price target on XPO from $129.00 to $136.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Citigroup boosted their price target on XPO from $100.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Raymond James boosted their price target on XPO from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, April 15th. The Goldman Sachs Group upped their price objective on XPO from $98.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Morgan Stanley downgraded XPO from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $75.00 to $80.00 in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, XPO currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.65.

About XPO

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 European Transportation. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite domestic services.