Morse Asset Management Inc Sells 1,462 Shares of XPO, Inc. (NYSE:XPO)

Morse Asset Management Inc lessened its stake in shares of XPO, Inc. (NYSE:XPO) by 40.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,120 shares of the transportation company’s stock after selling 1,462 shares during the quarter. Morse Asset Management Inc’s holdings in XPO were worth $259,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in XPO. Norges Bank bought a new position in shares of XPO in the 4th quarter worth $79,592,000. CenterBook Partners LP bought a new position in shares of XPO in the fourth quarter valued at $779,000. Dimensional Fund Advisors LP grew its holdings in shares of XPO by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,468,051 shares of the transportation company’s stock valued at $128,603,000 after buying an additional 67,797 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of XPO by 4.1% during the first quarter. Janney Montgomery Scott LLC now owns 43,953 shares of the transportation company’s stock worth $5,364,000 after acquiring an additional 1,712 shares in the last quarter. Finally, Empirical Capital Management LLC bought a new stake in shares of XPO during the fourth quarter worth about $4,380,000. 97.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

XPO has been the subject of a number of analyst reports. Evercore ISI cut their price target on XPO from $144.00 to $124.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Benchmark reiterated a “buy” rating and set a $140.00 price target on shares of XPO in a report on Friday, June 7th. Bank of America dropped their price objective on XPO from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company assumed coverage on shares of XPO in a report on Friday, June 7th. They set an “overweight” rating and a $125.00 price objective on the stock. Finally, Oppenheimer increased their target price on shares of XPO from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.45.

Insider Transactions at XPO

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

XPO Stock Performance

NYSE XPO traded up $0.43 during trading on Monday, hitting $110.13. 1,077,231 shares of the company’s stock traded hands, compared to its average volume of 1,469,269. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 1.74 and a beta of 2.10. XPO, Inc. has a 12-month low of $64.70 and a 12-month high of $130.51. The business has a 50 day moving average of $107.22 and a 200-day moving average of $110.78.

XPO (NYSE:XPO) last announced its quarterly earnings results on Friday, May 3rd. The transportation company reported $0.81 EPS for the quarter, beating 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 analysts’ expectations of $2.01 billion. During the same period in the prior year, the company posted $0.56 EPS. XPO’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that XPO, Inc. will post 3.54 earnings per share for the current fiscal year.

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.