ClearBridge SMID Cap Growth Strategy highlighted stocks like XPO, Inc. (NYSE:XPO) in the second quarter 2023 investor letter. Headquartered in Greenwich, Connecticut, XPO, Inc. (NYSE:XPO) offers freight transportation services. On September 21, 2023, XPO, Inc. (NYSE:XPO) stock closed at $67.88 per share. One-month return of XPO, Inc. (NYSE:XPO) was -1.65%, and its shares gained 166.01% of their value over the last 52 weeks. XPO, Inc. (NYSE:XPO) has a market capitalization of $7.872 billion.
ClearBridge SMID Cap Growth Strategy made the following comment about XPO, Inc. (NYSE:XPO) in its Q2 2023 investor letter:
“Our holdings in the industrials sector positively contributed to relative performance. Corporate earnings for the industrials sector have continued to exceed market expectations thanks in part to the diversity of industries and end markets for their products. Specifically, the portfolio benefited from its investments in XPO, Inc. (NYSE:XPO), our top individual performer, and Vertiv. XPO, which provides freight transportation services globally, saw its share price increase after the company announced it had hired an experienced industry veteran as its new president who is expected to implement new initiatives to help drive further margin expansion.”
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XPO, Inc. (NYSE:XPO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held XPO, Inc. (NYSE:XPO) at the end of second quarter which was 30 in the previous quarter.
We discussed XPO, Inc. (NYSE:XPO) in another article and shared the list of best logistics stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.