Tocqueville Asset Management L.P. Takes $16.65 Million Position in XPO, Inc. $XPO

Tocqueville Asset Management L.P. acquired a new position in shares of XPO, Inc. (NYSE:XPO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 81,103 shares of the transportation company’s stock, valued at approximately $16,650,000. Tocqueville Asset Management L.P. owned 0.07% of XPO at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in XPO in the 2nd quarter valued at approximately $2,985,276,000. Durable Capital Partners LP grew its stake in shares of XPO by 79.3% during the 2nd quarter. Durable Capital Partners LP now owns 3,595,056 shares of the transportation company’s stock worth $454,020,000 after acquiring an additional 1,589,759 shares in the last quarter. Norges Bank bought a new position in shares of XPO during the 4th quarter worth approximately $204,304,000. Bessemer Group Inc. raised its holdings in shares of XPO by 115.9% in the first quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company’s stock valued at $470,986,000 after purchasing an additional 1,299,480 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of XPO by 19.8% in the third quarter. Invesco Ltd. now owns 6,267,881 shares of the transportation company’s stock valued at $810,249,000 after purchasing an additional 1,036,434 shares during the last quarter. 97.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore upgraded shares of XPO from an “in-line” rating to an “outperform” rating in a report on Wednesday, July 1st. Wells Fargo & Company lifted their price target on shares of XPO from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Jefferies Financial Group boosted their price target on shares of XPO to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Benchmark raised their price objective on XPO from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, TD Cowen lifted their target price on XPO from $224.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, XPO has an average rating of “Moderate Buy” and an average target price of $225.86.

XPO Stock Down 2.6%

Shares of XPO stock opened at $197.45 on Thursday. XPO, Inc. has a 52-week low of $121.48 and a 52-week high of $232.05. The stock has a market cap of $23.12 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.06 and a beta of 1.85. The firm’s 50-day moving average is $206.73 and its 200-day moving average is $204.65. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.01 and a current ratio of 1.01.

XPO (NYSE:XPO) last posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.22. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.28 billion. XPO had a return on equity of 29.64% and a net margin of 4.71%.XPO’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. Sell-side analysts predict that XPO, Inc. will post 5.44 EPS for the current year.

Insider Activity at XPO

In related news, Director Allison Landry sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $215.61, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher Michael Brown sold 3,750 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total value of $757,275.00. Following the completion of the sale, the chief accounting officer owned 31,005 shares in the company, valued at approximately $6,261,149.70. This trade represents a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,400 shares of company stock valued at $1,526,502 over the last quarter. 0.87% of the stock is currently owned by corporate insiders.

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.