MFN Partners Management LP Makes New $2,026.15 Billion Investment in XPO, Inc. $XPO

MFN Partners Management LP purchased a new position in XPO, Inc. (NYSE:XPO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,869,691 shares of the transportation company’s stock, valued at approximately $2,026,148,865,000. XPO accounts for approximately 41.9% of MFN Partners Management LP’s investment portfolio, making the stock its largest position. MFN Partners Management LP owned 8.43% of XPO as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of XPO. Elyxium Wealth LLC bought a new position in XPO during the fourth quarter worth $28,000. Keating Financial Advisory Services Inc. bought a new stake in XPO during the second quarter valued at $32,000. Torren Management LLC bought a new stake in XPO during the fourth quarter valued at $37,000. Horizon Investments LLC acquired a new stake in XPO during the 3rd quarter worth about $39,000. Finally, International Assets Investment Management LLC acquired a new stake in XPO during the 4th quarter worth about $41,000. 97.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on XPO. Citigroup dropped their price objective on XPO from $226.00 to $221.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Weiss Ratings raised XPO from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Raymond James Financial lowered their target price on XPO from $233.00 to $225.00 and set an “outperform” rating for the company in a report on Monday, July 13th. JPMorgan Chase & Co. boosted their price target on XPO from $208.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Finally, Zacks Research upgraded XPO from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, XPO presently has a consensus rating of “Moderate Buy” and an average target price of $225.86.

XPO Price Performance

Shares of NYSE XPO opened at $198.74 on Friday. The firm’s 50-day moving average price is $205.54 and its 200-day moving average price is $204.95. XPO, Inc. has a 1-year low of $121.48 and a 1-year high of $232.05. The firm has a market capitalization of $23.27 billion, a P/E ratio of 58.63, a P/E/G ratio of 2.01 and a beta of 1.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55.

XPO (NYSE:XPO) last issued its earnings results on Thursday, July 30th. The transportation company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.48 by $0.22. XPO had a return on equity of 29.64% and a net margin of 4.71%.The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the business posted $1.05 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts anticipate that XPO, Inc. will post 5.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Christopher Michael Brown sold 3,750 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $201.94, for a total value of $757,275.00. Following the transaction, the chief accounting officer directly owned 31,005 shares in the company, valued at $6,261,149.70. This trade represents a 10.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allison Landry sold 2,400 shares of XPO stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $215.61, for a total transaction of $517,464.00. Following the transaction, the director owned 4,849 shares of the company’s stock, valued at $1,045,492.89. This represents a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 7,400 shares of company stock worth $1,526,502. 0.87% of the stock is owned by company insiders.

XPO Company Profile

XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company’s operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.

In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.