MFN Partners Management LP Sells 1,250,000 Shares of XPO, Inc. (NYSE:XPO)

MFN Partners Management LP lessened its holdings in XPO, Inc. (NYSE:XPO) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,425,369 shares of the transportation company’s stock after selling 1,250,000 shares during the period. XPO comprises 41.1% of MFN Partners Management LP’s holdings, making the stock its biggest holding. MFN Partners Management LP owned approximately 0.10% of XPO worth $1,212,803,000 as of its most recent SEC filing.

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

XPO Stock Performance

Shares of XPO stock opened at $110.81 on Wednesday. The firm’s 50 day moving average is $112.72 and its 200 day moving average is $113.48. The stock has a market capitalization of $12.89 billion, a P/E ratio of 54.32, a PEG ratio of 1.72 and a beta of 2.11. XPO, Inc. has a 12 month low of $65.80 and a 12 month high of $130.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.63.

XPO (NYSE:XPO) last posted its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.07 billion. XPO had a return on equity of 32.49% and a net margin of 4.48%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. On average, sell-side analysts anticipate that XPO, Inc. will post 3.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on XPO. JPMorgan Chase & Co. decreased their price target on shares of XPO from $147.00 to $143.00 and set an “overweight” rating for the company in a research note on Friday, September 6th. Evercore ISI lowered their target price on shares of XPO from $144.00 to $124.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Bank of America dropped their price target on shares of XPO from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Stephens reaffirmed an “overweight” rating and set a $150.00 price target on shares of XPO in a research report on Thursday, September 5th. Finally, Susquehanna cut their price objective on XPO from $160.00 to $145.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, XPO has an average rating of “Moderate Buy” and a consensus price target of $129.29.

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.