Verition Fund Management LLC Has $3.20 Million Position in XPO Logistics Inc (XPO)
Verition Fund Management LLC decreased its position in XPO Logistics Inc (NYSE:XPO) by 13.3% during the second quarter, HoldingsChannel reports. The firm owned 31,975 shares of the transportation company’s stock after selling 4,902 shares during the quarter. Verition Fund Management LLC’s holdings in XPO Logistics were worth $3,203,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Voya Investment Management LLC lifted its stake in XPO Logistics by 87.8% during the 2nd quarter. Voya Investment Management LLC now owns 2,067,804 shares of the transportation company’s stock valued at $207,153,000 after acquiring an additional 966,927 shares during the period. JPMorgan Chase & Co. lifted its stake in XPO Logistics by 704.1% during the 1st quarter. JPMorgan Chase & Co. now owns 700,893 shares of the transportation company’s stock valued at $71,359,000 after acquiring an additional 816,908 shares during the period. Epoch Investment Partners Inc. lifted its stake in XPO Logistics by 1,019.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 894,315 shares of the transportation company’s stock valued at $89,593,000 after acquiring an additional 814,403 shares during the period. BlackRock Inc. lifted its stake in XPO Logistics by 14.9% during the 2nd quarter. BlackRock Inc. now owns 5,831,257 shares of the transportation company’s stock valued at $584,174,000 after acquiring an additional 758,293 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in XPO Logistics by 425.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 649,600 shares of the transportation company’s stock valued at $65,077,000 after acquiring an additional 525,900 shares during the period. Institutional investors own 92.89% of the company’s stock.
Several research firms have issued reports on XPO. ValuEngine cut shares of XPO Logistics from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 29th. Stifel Nicolaus started coverage on shares of XPO Logistics in a research report on Tuesday, June 19th. They set a “hold” rating and a $118.00 price target for the company. KeyCorp reduced their price target on shares of XPO Logistics from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 3rd. Cowen upped their price target on shares of XPO Logistics from $112.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, May 24th. Finally, R. F. Lafferty started coverage on shares of XPO Logistics in a research report on Tuesday, July 10th. They set a “buy” rating and a $125.00 price target for the company. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $110.09.
XPO Logistics (NYSE:XPO) last released its earnings results on Wednesday, August 1st. The transportation company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.01. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.29 billion. XPO Logistics had a net margin of 2.84% and a return on equity of 9.12%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. sell-side analysts forecast that XPO Logistics Inc will post 3.49 EPS for the current fiscal year.
XPO Logistics Company Profile
XPO Logistics, Inc provides transportation and logistics services in the United States, North America, France, the United Kingdom, Spain, Europe, Asia, and internationally. The company's Transportation segment offers freight brokerage services comprising truck brokerage, intermodal, drayage, and expedite services; last mile services, primarily asset-light; density and day-definite regional, inter-regional, and transcontinental less-than-truckload freight services; full truckload services for transactional transportation of packaged goods, high cube products, and bulk goods; and logistics services for domestic, cross-border, and international shipments.
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