Victory Capital Management Inc. Cuts Stake in XPO, Inc. (NYSE:XPO)

Victory Capital Management Inc. reduced its holdings in shares of XPO, Inc. (NYSE:XPO) by 5.9% during the second quarter, HoldingsChannel reports. The firm owned 37,949 shares of the transportation company’s stock after selling 2,367 shares during the period. Victory Capital Management Inc.’s holdings in XPO were worth $4,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of XPO. Capital Research Global Investors lifted its holdings in shares of XPO by 49.9% during the fourth quarter. Capital Research Global Investors now owns 9,290,937 shares of the transportation company’s stock valued at $813,824,000 after purchasing an additional 3,094,390 shares in the last quarter. Norges Bank bought a new position in XPO in the fourth quarter valued at about $79,592,000. Clearbridge Investments LLC lifted its holdings in XPO by 33.4% in the first quarter. Clearbridge Investments LLC now owns 2,234,691 shares of the transportation company’s stock valued at $272,699,000 after acquiring an additional 560,079 shares during the period. Capital World Investors lifted its holdings in XPO by 13.1% in the fourth quarter. Capital World Investors now owns 4,349,181 shares of the transportation company’s stock valued at $380,945,000 after acquiring an additional 503,388 shares during the period. Finally, Balyasny Asset Management L.P. lifted its holdings in XPO by 44.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,515,529 shares of the transportation company’s stock valued at $132,745,000 after acquiring an additional 463,267 shares during the period. 97.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

XPO has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on XPO from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lowered their target price on XPO from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. TD Cowen lowered their target price on XPO from $143.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Benchmark restated a “buy” rating and issued a $140.00 price target on shares of XPO in a research report on Friday, August 2nd. Finally, Stephens restated an “overweight” rating and issued a $150.00 price target on shares of XPO in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, XPO has an average rating of “Moderate Buy” and a consensus price target of $129.29.

XPO Stock Performance

NYSE:XPO opened at $109.36 on Tuesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.00 and a quick ratio of 1.00. XPO, Inc. has a 1 year low of $65.80 and a 1 year high of $130.51. The stock’s 50 day simple moving average is $112.52 and its two-hundred day simple moving average is $113.55. The company has a market cap of $12.72 billion, a price-to-earnings ratio of 53.61, a PEG ratio of 1.72 and a beta of 2.11.

XPO (NYSE:XPO) last released its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. XPO had a return on equity of 32.49% and a net margin of 4.48%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that XPO, Inc. will post 3.6 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.