XPO, Inc. Shares Purchased by Signaturefd LLC

2 min read | October 28, 2024 04:34 AM PDT | By Team Kalkine Media

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XPO, Inc. Shares Purchased by Signaturefd LLC — Image source: Shutterstock

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Highlights

Signaturefd LLC increased its stake in XPO, Inc. by 120% during the third quarter, reflecting growing confidence in the transportation sector.

Institutional ownership of XPO remains high, with 97.73% of shares held by hedge funds and other institutional investors.

Analyst sentiment is predominantly positive, with several firms raising price targets and issuing "buy" ratings.

Signaturefd LLC has significantly raised its holdings in XPO, Inc. (NYSE:XPO) by 120% during the third quarter, as reported in the latest Form 13F filing with the Securities and Exchange Commission. The firm now owns 1,311 shares after acquiring an additional 715 shares during the period.

Several other institutional investors have also modified their stakes in XPO. Park Avenue Securities LLC and Oak Thistle LLC entered new positions in the company during the first quarter, contributing to a trend of increasing institutional interest. Allspring Global Investments Holdings LLC enhanced its stake by 10.7%, bringing its total ownership to 5,754 shares. Additionally, the State of Michigan Retirement System raised its holdings by 2.5%, now owning 28,542 shares. Overall, institutional investors and hedge funds control 97.73% of XPO's stock, highlighting strong market confidence.

Recent analyst activity has reflected a generally favorable outlook for XPO. Wells Fargo & Company lowered its price target from $125 to $119 while maintaining an “overweight” rating. In contrast, Susquehanna increased its price objective from $145 to $160 and labeled the company with a “positive” rating. Benchmark reaffirmed a “buy” rating with a target of $140, while Stifel Nicolaus raised its price target to $126. The consensus rating for XPO is classified as "Moderate Buy," with an average price target of $130.41.

XPO recently reported quarterly earnings that surpassed analysts’ expectations, achieving an earnings per share (EPS) of $1.12 against a consensus estimate of $1.01. The company generated revenue of $2.08 billion for the quarter, reflecting an 8.5% increase compared to the previous year. XPO operates in the freight transportation sector, providing services across North America and Europe, focusing on less-than-truckload (LTL) services.

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