Allspring Global Investments Holdings LLC Has $77.75 Million Position in XPO, Inc. $XPO

Allspring Global Investments Holdings LLC boosted its holdings in XPO, Inc. (NYSE:XPO) by 358.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391,800 shares of the transportation company’s stock after acquiring an additional 306,373 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in XPO were worth $77,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Border to Coast Pensions Partnership Ltd bought a new stake in shares of XPO in the 1st quarter worth about $36,048,000. Econ Financial Services Corp bought a new position in XPO during the 4th quarter valued at about $1,837,000. Calamos Advisors LLC boosted its position in XPO by 247.8% in the fourth quarter. Calamos Advisors LLC now owns 13,973 shares of the transportation company’s stock valued at $1,899,000 after buying an additional 9,956 shares in the last quarter. K.J. Harrison & Partners Inc grew its stake in XPO by 460.0% during the fourth quarter. K.J. Harrison & Partners Inc now owns 28,000 shares of the transportation company’s stock worth $3,805,000 after buying an additional 23,000 shares during the last quarter. Finally, Dakota Wealth Management grew its stake in XPO by 23.3% during the fourth quarter. Dakota Wealth Management now owns 14,641 shares of the transportation company’s stock worth $1,990,000 after buying an additional 2,765 shares during the last quarter. Institutional investors own 97.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on XPO shares. Oppenheimer lifted their target price on shares of XPO from $228.00 to $236.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. BMO Capital Markets increased their price target on XPO from $240.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Benchmark raised their price target on XPO from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 1st. Barclays lifted their price objective on XPO from $195.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company boosted their price objective on XPO from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, XPO currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.57.

XPO Trading Down 2.1%

NYSE XPO opened at $214.67 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. XPO, Inc. has a one year low of $116.68 and a one year high of $232.05. The stock’s 50-day moving average is $209.09 and its 200-day moving average is $194.68. The firm has a market cap of $25.20 billion, a P/E ratio of 73.52, a P/E/G ratio of 2.52 and a beta of 1.85.

XPO (NYSE:XPO) last issued its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. XPO had a return on equity of 26.21% and a net margin of 4.19%.The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. Sell-side analysts anticipate that XPO, Inc. will post 4.9 earnings per share for the current fiscal year.

Insider Activity at XPO

In other news, Director Allison Landry sold 2,400 shares of the business’s 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 sale, the director owned 4,849 shares of the company’s stock, valued at $1,045,492.89. The trade was a 33.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

XPO Profile

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.