PCJ Investment Counsel Ltd. Cuts Stock Holdings in XPO, Inc. (NYSE:XPO)

PCJ Investment Counsel Ltd. cut its stake in shares of XPO, Inc. (NYSE:XPO) by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,740 shares of the transportation company’s stock after selling 12,670 shares during the quarter. XPO accounts for about 1.2% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 21st biggest holding. PCJ Investment Counsel Ltd.’s holdings in XPO were worth $3,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XPO. Stifel Financial Corp raised its position in XPO by 159.1% in the 3rd quarter. Stifel Financial Corp now owns 70,407 shares of the transportation company’s stock worth $7,569,000 after purchasing an additional 43,237 shares during the period. Neo Ivy Capital Management purchased a new position in shares of XPO in the third quarter worth about $534,000. Exchange Traded Concepts LLC bought a new stake in shares of XPO in the 4th quarter valued at about $423,000. JPMorgan Chase & Co. boosted its holdings in XPO by 36.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 698,831 shares of the transportation company’s stock valued at $75,131,000 after acquiring an additional 185,686 shares during the period. Finally, Whalen Wealth Management Inc. bought a new position in XPO during the 3rd quarter worth approximately $706,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

XPO Price Performance

Shares of XPO opened at $108.07 on Friday. XPO, Inc. has a fifty-two week low of $97.03 and a fifty-two week high of $161.00. The firm’s 50-day simple moving average is $133.88 and its two-hundred day simple moving average is $130.15. The stock has a market cap of $12.67 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.06 and a current ratio of 1.06.

XPO (NYSE:XPO) last posted its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.89 earnings per share for the quarter, topping 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%. Analysts anticipate that XPO, Inc. will post 4.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

XPO has been the subject of several recent research reports. Oppenheimer boosted their price objective on XPO from $148.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Stifel Nicolaus raised shares of XPO from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a report on Monday, February 24th. Wells Fargo & Company lowered their price objective on shares of XPO from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Vertical Research raised XPO from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Thursday. Finally, Citigroup boosted their price target on XPO from $155.00 to $179.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Eighteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $160.89.

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.