1,439,636 Shares in XPO, Inc. (NYSE:XPO) Acquired by Norges Bank

Norges Bank purchased a new stake in XPO, Inc. (NYSE:XPO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,439,636 shares of the transportation company’s stock, valued at approximately $188,808,000. Norges Bank owned 1.24% of XPO as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of XPO during the 4th quarter valued at $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of XPO during the fourth quarter valued at about $42,000. Cullen Frost Bankers Inc. boosted its position in shares of XPO by 69.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 318 shares of the transportation company’s stock worth $42,000 after purchasing an additional 130 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of XPO by 25.6% in the 4th quarter. Larson Financial Group LLC now owns 373 shares of the transportation company’s stock valued at $49,000 after buying an additional 76 shares during the period. Finally, UMB Bank n.a. increased its position in XPO by 19.0% in the 4th quarter. UMB Bank n.a. now owns 538 shares of the transportation company’s stock valued at $71,000 after buying an additional 86 shares in the last quarter. 97.73% of the stock is currently owned by institutional investors.

XPO Stock Down 5.2 %

XPO opened at $107.36 on Monday. XPO, Inc. has a twelve month low of $97.03 and a twelve month high of $161.00. The company’s 50-day moving average price is $125.98 and its two-hundred day moving average price is $129.96. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.79 and a beta of 2.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08.

XPO (NYSE:XPO) last posted its quarterly earnings data on Thursday, February 6th. The transportation company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.68 by $0.21. XPO had a return on equity of 30.36% and a net margin of 4.81%. As a group, equities analysts expect that XPO, Inc. will post 4.15 earnings per share for the current year.

XPO declared that its board has authorized a share repurchase plan on Thursday, March 27th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the transportation company to purchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other XPO news, COO David J. Bates bought 1,880 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $106.16 per share, for a total transaction of $199,580.80. Following the completion of the transaction, the chief operating officer now directly owns 21,106 shares of the company’s stock, valued at $2,240,612.96. This trade represents a 9.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

XPO has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on XPO from $146.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Stifel Nicolaus raised shares of XPO from a “hold” rating to a “buy” rating and set a $147.00 price target for the company in a research report on Monday, February 24th. Oppenheimer upped their price objective on shares of XPO from $148.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Truist Financial began coverage on shares of XPO in a report on Thursday, March 13th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on shares of XPO from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Nineteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, XPO presently has a consensus rating of “Buy” and a consensus target price of $155.37.

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.