Mackenzie Financial Corp Makes New $585,000 Investment in XPO, Inc. (NYSE:XPO)

Mackenzie Financial Corp bought a new stake in XPO, Inc. (NYSE:XPO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,512 shares of the transportation company’s stock, valued at approximately $585,000.

Several other institutional investors have also recently made changes to their positions in XPO. CenterBook Partners LP bought a new position in XPO during the 4th quarter valued at about $779,000. Janney Montgomery Scott LLC raised its holdings in shares of XPO by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 43,953 shares of the transportation company’s stock worth $5,364,000 after buying an additional 1,712 shares during the period. Empirical Capital Management LLC bought a new stake in shares of XPO during the 4th quarter worth approximately $4,380,000. Pinebridge Investments L.P. purchased a new position in XPO during the 4th quarter valued at $2,056,000. Finally, Westwood Holdings Group Inc. grew its position in XPO by 38.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 205,196 shares of the transportation company’s stock valued at $21,782,000 after acquiring an additional 57,192 shares during the last quarter. Institutional investors own 97.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on XPO from $147.00 to $143.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Bank of America lowered their price objective on shares of XPO from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Susquehanna upped their target price on shares of XPO from $145.00 to $160.00 and gave the stock a “positive” rating in a research note on Wednesday, September 18th. Wells Fargo & Company decreased their price target on shares of XPO from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, Stephens reissued an “overweight” rating and issued a $150.00 price objective on shares of XPO in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.24.

XPO Stock Up 0.3 %

NYSE:XPO opened at $106.26 on Friday. The company’s 50-day simple moving average is $112.60 and its 200-day simple moving average is $112.39. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.00 and a current ratio of 1.00. XPO, Inc. has a fifty-two week low of $65.80 and a fifty-two week high of $130.51. The stock has a market capitalization of $12.37 billion, a P/E ratio of 52.09, a P/E/G ratio of 1.73 and a beta of 2.10.

XPO (NYSE:XPO) last released its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.11. XPO had a net margin of 4.48% and a return on equity of 32.49%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that XPO, Inc. will post 3.59 earnings per share for the current fiscal year.

About XPO

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.