BlackRock Inc. Trims Stake in XPO Logistics, Inc. (NYSE:XPO)

BlackRock Inc. reduced its holdings in shares of XPO Logistics, Inc. (NYSE:XPO) by 2.2% in the second quarter, Holdings Channel reports. The institutional investor owned 9,197,026 shares of the transportation company’s stock after selling 208,128 shares during the period. BlackRock Inc. owned about 0.08% of XPO Logistics worth $1,286,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the business. Quadrant Capital Group LLC increased its holdings in XPO Logistics by 41.4% during the first quarter. Quadrant Capital Group LLC now owns 355 shares of the transportation company’s stock valued at $44,000 after buying an additional 104 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of XPO Logistics by 30.8% in the first quarter. Harvest Fund Management Co. Ltd now owns 467 shares of the transportation company’s stock worth $57,000 after purchasing an additional 110 shares during the period. Nicholas Hoffman & Company LLC. boosted its position in shares of XPO Logistics by 5.9% in the second quarter. Nicholas Hoffman & Company LLC. now owns 2,407 shares of the transportation company’s stock worth $337,000 after purchasing an additional 135 shares during the period. Thoroughbred Financial Services LLC boosted its position in shares of XPO Logistics by 5.6% in the second quarter. Thoroughbred Financial Services LLC now owns 3,167 shares of the transportation company’s stock worth $443,000 after purchasing an additional 167 shares during the period. Finally, Aspire Private Capital LLC bought a new position in shares of XPO Logistics in the first quarter worth approximately $25,000. 75.15% of the stock is owned by institutional investors and hedge funds.

In other news, Director Jacobs Private Equity, Llc sold 2,875,000 shares of the stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $133.86, for a total value of $384,847,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 17.80% of the company’s stock.

A number of research firms have weighed in on XPO. Morgan Stanley began coverage on shares of XPO Logistics in a research report on Thursday, August 12th. They issued an “equal weight” rating and a $75.00 price target for the company. UBS Group dropped their price target on shares of XPO Logistics from $160.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, August 5th. Zacks Investment Research lowered shares of XPO Logistics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 7th. Truist dropped their price target on shares of XPO Logistics from $185.00 to $105.00 and set an “in-line” rating for the company in a research report on Friday, August 27th. Finally, Truist Securities dropped their target price on shares of XPO Logistics from $185.00 to $105.00 and set an “in-line” rating for the company in a research report on Friday, August 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $132.38.

XPO Logistics stock opened at $85.48 on Friday. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.63 and a beta of 2.16. The firm’s fifty day moving average is $96.88 and its 200 day moving average is $123.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.75. XPO Logistics, Inc. has a 52-week low of $47.33 and a 52-week high of $90.78.

XPO Logistics (NYSE:XPO) last released its quarterly earnings results on Wednesday, July 28th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.15. XPO Logistics had a net margin of 2.62% and a return on equity of 21.65%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.86 billion. On average, equities research analysts anticipate that XPO Logistics, Inc. will post 4.11 earnings per share for the current fiscal year.

About XPO Logistics

XPO Logistics, Inc engages in the provision of supply chain solutions. It operates through the following segments: Transportation and Logistics. The Transportation segment includes truck brokerage, expedite, intermodal, drayage, last mile, less-than-truckload, full truckload, global forwarding and managed transportation.

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Institutional Ownership by Quarter for XPO Logistics (NYSE:XPO)

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