Primecap Management Co. CA Sells 2,000 Shares of XPO, Inc. (NYSE:XPO)

Primecap Management Co. CA decreased its stake in shares of XPO, Inc. (NYSE:XPO) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,100 shares of the transportation company’s stock after selling 2,000 shares during the quarter. Primecap Management Co. CA’s holdings in XPO were worth $58,499,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in shares of XPO during the second quarter valued at approximately $16,540,000. Dimensional Fund Advisors LP lifted its holdings in shares of XPO by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,500,368 shares of the transportation company’s stock worth $159,243,000 after buying an additional 130,322 shares during the period. Envestnet Asset Management Inc. grew its position in shares of XPO by 32.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 74,489 shares of the transportation company’s stock worth $7,907,000 after buying an additional 18,186 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in shares of XPO by 2.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 8,615 shares of the transportation company’s stock worth $914,000 after buying an additional 175 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of XPO by 15.7% in the second quarter. Texas Permanent School Fund Corp now owns 117,565 shares of the transportation company’s stock valued at $12,480,000 after acquiring an additional 15,944 shares in the last quarter. 97.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on XPO shares. Susquehanna dropped their target price on shares of XPO from $160.00 to $145.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Evercore ISI cut their price objective on shares of XPO from $144.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Bank of America lowered their target price on XPO from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of XPO in a report on Friday, August 2nd. Finally, Raymond James decreased their price objective on XPO from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.29.

XPO Trading Up 1.3 %

Shares of XPO stock opened at $110.81 on Wednesday. The firm’s 50 day simple moving average is $112.72 and its two-hundred day simple moving average is $113.48. The firm has a market capitalization of $12.89 billion, a price-to-earnings 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 released its earnings results on Thursday, August 1st. The transportation company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.11. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. XPO had a return on equity of 32.49% and a net margin of 4.48%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. Analysts predict that XPO, Inc. will post 3.6 EPS for the current 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.