Renaissance Technologies LLC Invests $16.54 Million in XPO, Inc. (NYSE:XPO)

Renaissance Technologies LLC acquired a new position in shares of XPO, Inc. (NYSE:XPO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 155,820 shares of the transportation company’s stock, valued at approximately $16,540,000. Renaissance Technologies LLC owned 0.13% of XPO as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. bought a new position in XPO during the 1st quarter valued at about $27,000. Blue Trust Inc. lifted its holdings in XPO by 25,800.0% during the 2nd quarter. Blue Trust Inc. now owns 259 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 258 shares during the last quarter. Quest Partners LLC bought a new position in XPO during the 2nd quarter valued at about $28,000. Riverview Trust Co bought a new position in XPO during the 1st quarter valued at about $31,000. Finally, ORG Partners LLC bought a new position in XPO during the 1st quarter valued at about $36,000. 97.73% of the stock is owned by institutional investors.

XPO Stock Down 2.4 %

Shares of NYSE XPO opened at $112.50 on Friday. The stock has a market cap of $13.09 billion, a P/E ratio of 55.15, a P/E/G ratio of 1.76 and a beta of 2.11. The firm has a 50 day moving average price of $113.22 and a 200 day moving average price of $113.35. 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 52-week low of $65.80 and a 52-week high of $130.51.

XPO (NYSE:XPO) last issued its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. XPO had a net margin of 4.48% and a return on equity of 32.49%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter 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. Analysts expect that XPO, Inc. will post 3.6 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of XPO from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Stephens reaffirmed an “overweight” rating and issued a $150.00 target price on shares of XPO in a research note on Thursday, September 5th. Susquehanna boosted 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. Raymond James dropped their target price on shares of XPO from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Finally, TD Cowen dropped their target price on shares of XPO from $143.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.18.

XPO 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.