State of Michigan Retirement System Trims Stock Position in XPO, Inc. (NYSE:XPO)

State of Michigan Retirement System trimmed its stake in shares of XPO, Inc. (NYSE:XPO) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,042 shares of the transportation company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in XPO were worth $2,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of XPO during the 1st quarter worth approximately $27,000. Blue Trust Inc. grew its holdings in XPO by 25,800.0% in the second quarter. Blue Trust Inc. now owns 259 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 258 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of XPO by 170.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 335 shares of the transportation company’s stock valued at $30,000 after buying an additional 211 shares in the last quarter. Riverview Trust Co acquired a new position in shares of XPO during the 1st quarter worth approximately $31,000. Finally, ORG Partners LLC purchased a new position in shares of XPO during the 1st quarter valued at approximately $36,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

XPO Stock Down 2.6 %

Shares of NYSE:XPO opened at $118.48 on Wednesday. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 58.08, a PEG ratio of 1.88 and a beta of 2.10. XPO, Inc. has a 12-month low of $65.80 and a 12-month high of $130.51. The business has a 50-day moving average price of $111.50 and a 200 day moving average price of $114.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.63.

XPO (NYSE:XPO) last released its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. XPO had a net margin of 4.48% and a return on equity of 32.49%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. Sell-side analysts expect that XPO, Inc. will post 3.61 EPS for the current year.

Analyst Upgrades and Downgrades

XPO has been the subject of a number of research analyst reports. Susquehanna reduced their price objective on shares of XPO from $160.00 to $145.00 and set a “positive” rating for the company in a research report on Wednesday, June 12th. Bank of America cut their price objective on XPO from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. TD Cowen raised their target price on XPO from $136.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Benchmark reiterated a “buy” rating and set a $140.00 price target on shares of XPO in a research report on Friday, August 2nd. Finally, Evercore ISI lowered their target price on shares of XPO from $144.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.18.

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.