State of Michigan Retirement System Increases Stake in XPO, Inc. (NYSE:XPO)

State of Michigan Retirement System grew its position in XPO, Inc. (NYSE:XPO) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 28,542 shares of the transportation company’s stock after buying an additional 700 shares during the period. State of Michigan Retirement System’s holdings in XPO were worth $3,483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in XPO. Mather Group LLC. bought a new position in XPO in the 1st quarter valued at approximately $27,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of XPO by 170.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 335 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 211 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of XPO during the first quarter valued at $31,000. Rise Advisors LLC bought a new stake in XPO in the 1st quarter worth about $37,000. Finally, GAMMA Investing LLC purchased a new position in XPO in the 4th quarter worth about $46,000. Institutional investors own 97.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XPO. Bank of America lifted their price target on shares of XPO from $137.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Benchmark reissued a “buy” rating and set a $140.00 price target on shares of XPO in a report on Friday, June 7th. Wells Fargo & Company began coverage on XPO in a report on Friday, June 7th. They issued an “overweight” rating and a $125.00 price objective for the company. Stifel Nicolaus upgraded XPO from a “hold” rating to a “buy” rating and upped their price objective for the company from $115.00 to $120.00 in a research report on Friday, May 24th. Finally, Susquehanna dropped their target price on XPO from $160.00 to $145.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.70.

XPO Trading Up 0.8 %

XPO opened at $106.18 on Wednesday. The stock has a 50-day moving average of $108.05 and a 200 day moving average of $107.87. XPO, Inc. has a 12 month low of $56.81 and a 12 month high of $130.51. The firm has a market cap of $12.35 billion, a P/E ratio of 52.05, a P/E/G ratio of 1.51 and a beta of 2.10. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.49.

XPO (NYSE:XPO) last posted its quarterly earnings data on Friday, May 3rd. The transportation company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. XPO had a net margin of 3.08% and a return on equity of 30.77%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted $0.56 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts forecast that XPO, Inc. will post 3.62 EPS for the current year.

Insider Buying and Selling

In other news, Director Allison Landry sold 1,875 shares of XPO stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $104.52, for a total transaction of $195,975.00. Following the completion of the sale, the director now directly owns 6,965 shares in the company, valued at $727,981.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Mfn Partners, Lp sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $112.98, for a total value of $141,225,000.00. Following the transaction, the insider now owns 11,425,369 shares of the company’s stock, valued at $1,290,838,189.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Allison Landry sold 1,875 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $104.52, for a total value of $195,975.00. Following the transaction, the director now owns 6,965 shares in the company, valued at $727,981.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

XPO Company Profile

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.