M&T Bank Corp Sells 669 Shares of XPO, Inc. (NYSE:XPO)

M&T Bank Corp lowered its stake in shares of XPO, Inc. (NYSE:XPO) by 12.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,920 shares of the transportation company’s stock after selling 669 shares during the quarter. M&T Bank Corp’s holdings in XPO were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in XPO. Capital Research Global Investors increased its stake in shares of XPO by 18.5% in the 4th quarter. Capital Research Global Investors now owns 13,641,962 shares of the transportation company’s stock valued at $1,789,171,000 after purchasing an additional 2,125,686 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in XPO in the fourth quarter valued at about $231,667,000. Capital World Investors grew its position in XPO by 26.1% in the fourth quarter. Capital World Investors now owns 7,753,883 shares of the transportation company’s stock valued at $1,016,923,000 after acquiring an additional 1,605,001 shares during the last quarter. Norges Bank acquired a new position in XPO during the fourth quarter worth about $188,808,000. Finally, Durable Capital Partners LP bought a new position in shares of XPO in the fourth quarter worth about $75,923,000. Institutional investors own 97.73% of the company’s stock.

Wall Street Analysts Forecast Growth

XPO has been the topic of several research reports. Benchmark lifted their price target on shares of XPO from $130.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen decreased their target price on shares of XPO from $136.00 to $133.00 and set a “buy” rating on the stock in a research note on Friday, June 27th. Stephens reiterated an “overweight” rating and issued a $131.00 price target on shares of XPO in a research note on Thursday, June 5th. Citigroup lowered XPO from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $137.00 to $140.00 in a research report on Wednesday, July 9th. Finally, Raymond James Financial lowered their target price on XPO from $165.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.00.

XPO Stock Performance

XPO stock opened at $128.35 on Wednesday. XPO, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $161.00. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $15.12 billion, a P/E ratio of 39.49, a price-to-earnings-growth ratio of 2.54 and a beta of 1.93. The firm’s fifty day moving average price is $122.98 and its 200-day moving average price is $120.66.

XPO (NYSE:XPO) last posted its earnings results on Wednesday, April 30th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.98 billion. XPO had a return on equity of 28.27% and a net margin of 4.87%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, equities research analysts expect that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

XPO declared that its board has initiated a share buyback program on Thursday, March 27th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the transportation company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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.