Norges Bank Makes New $204.30 Million Investment in XPO, Inc. $XPO

Norges Bank bought a new position in XPO, Inc. (NYSE:XPO) in the 4th quarter, Holdings Channel reports. The firm bought 1,503,231 shares of the transportation company’s stock, valued at approximately $204,304,000.

Several other hedge funds have also made changes to their positions in XPO. Durable Capital Partners LP lifted its holdings in shares of XPO by 79.3% in the 2nd quarter. Durable Capital Partners LP now owns 3,595,056 shares of the transportation company’s stock worth $454,020,000 after buying an additional 1,589,759 shares during the period. Bessemer Group Inc. lifted its holdings in shares of XPO by 228,761.0% in the 4th quarter. Bessemer Group Inc. now owns 1,121,419 shares of the transportation company’s stock worth $152,411,000 after buying an additional 1,120,929 shares during the period. Invesco Ltd. lifted its holdings in shares of XPO by 19.8% in the 3rd quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company’s stock worth $810,249,000 after buying an additional 1,036,434 shares during the period. Capital World Investors lifted its holdings in shares of XPO by 7.3% in the 3rd quarter. Capital World Investors now owns 10,860,803 shares of the transportation company’s stock worth $1,403,973,000 after buying an additional 735,450 shares during the period. Finally, Orbis Allan Gray Ltd lifted its holdings in shares of XPO by 16.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 3,150,052 shares of the transportation company’s stock worth $397,820,000 after buying an additional 452,891 shares during the period. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

XPO Stock Performance

Shares of XPO stock opened at $216.67 on Wednesday. The firm has a market cap of $25.44 billion, a price-to-earnings ratio of 74.20, a PEG ratio of 2.59 and a beta of 1.83. The company’s 50 day moving average is $207.31 and its 200 day moving average is $178.13. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. XPO, Inc. has a 52-week low of $112.00 and a 52-week high of $231.46.

XPO (NYSE:XPO) last released its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.12. XPO had a net margin of 4.19% and a return on equity of 26.21%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that XPO, Inc. will post 4.84 EPS for the current fiscal year.

Insider Transactions at XPO

In other XPO news, Director Allison Landry sold 2,400 shares of XPO stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $215.61, for a total value of $517,464.00. Following the transaction, the director directly owned 4,849 shares of the company’s stock, valued at approximately $1,045,492.89. The trade was a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

XPO has been the subject of several research reports. UBS Group set a $210.00 target price on XPO and gave the stock a “buy” rating in a report on Friday, February 6th. Weiss Ratings raised shares of XPO from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. TD Cowen lifted their price objective on shares of XPO from $192.00 to $224.00 and gave the company a “buy” rating in a report on Friday, May 1st. Truist Financial set a $240.00 price objective on shares of XPO in a report on Friday, May 1st. Finally, Stifel Nicolaus set a $237.00 price objective on shares of XPO in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.33.

About XPO

XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company’s operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.

In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.