This article presents an overview of 5 Best Trucking Stocks to Buy. For a detailed overview of such stocks read our article, 10 Best Trucking Stocks to Buy.
5. Knight-Swift Transportation Holdings Inc. (NYSE:KNX)
Number of Hedge Fund Holders: 38
Knight-Swift Transportation Holdings Inc. (NYSE:KNX) is the largest truckload carrier in North America, providing a variety of transportation services, including dry van, refrigerated, and flatbed trucking. The company is known for its extensive truck fleet and commitment to safety, timely deliveries, and sustainable practices.
Knight-Swift Transportation Holdings Inc. (NYSE:KNX) maintained its number of hedge fund holdings at 38 across both quarters. However, the total value of these holdings saw a substantial increase from about $491 million in Q3 2023 to $710 million in Q4 2023, an increase of roughly $218 million.
4. XPO Logistics, Inc. (NYSE:XPO)
Number of Hedge Fund Holders: 39
XPO Logistics, Inc. (NYSE:XPO) offers a broad range of trucking services, including FTL, LTL, and last-mile delivery of heavy goods directly to consumers’ homes. With its extensive network, XPO Logistics, Inc. (NYSE:XPO) is equipped to handle the shipping needs of various industries, including e-commerce, which requires a reliable and versatile trucking operation.
Benchmark has increased XPO Logistics, Inc. (NYSE:XPO)’s price target from $125 to $140 while maintaining a Buy rating on the stock. The firm raised the target due to the successful execution of the LTL 2.0 plan. This strategic plan is expected to lead to strong long-term operating performance.
In Q4 2023, hedge fund holdings in XPO Logistics, Inc. (NYSE:XPO) rose from 33 to 39, showing an uptick in hedge fund interest. The total value of these holdings slightly increased from approximately $2,316 million in Q3 2023 to $2,361 million in Q4 2023.
3. Old Dominion Freight Line (NASDAQ:ODFL)
Number of Hedge Fund Holders: 43
Old Dominion Freight Line (NASDAQ:ODFL) specializes in LTL shipments and boasts a high claim-free and on-time delivery rate. With its fleet of trucks, Old Dominion Freight Line (NASDAQ:ODFL) provides regional, inter-regional, and national LTL service and value-added logistics like expedited transportation and supply chain consulting.
Old Dominion Freight Line (NASDAQ:ODFL) saw an increase in hedge fund holdings from 36 to 43 in Q4 2023.
2. United Parcel Service, Inc. (NYSE:UPS)
Number of Hedge Fund Holders: 46
United Parcel Service, Inc. (NYSE:UPS) operates one of the largest and most sophisticated trucking fleets in the world. Their trucking services range from package delivery to larger freight operations, emphasizing reliability and extensive reach. United Parcel Service, Inc. (NYSE:UPS) is a key player in ground shipping, offering both LTL and FTL services to meet a wide array of logistics needs.
The hedge fund holdings in United Parcel Service, Inc. (NYSE:UPS) grew from 42 to 46 in Q4 2023, reflecting growing hedge fund interest. Moreover, the total value of these holdings increased from around $1.8 billion in Q3 2023 to approximately $2.1 billion in Q4 2023. This increase of about $323 million in investment value underscores a strengthening confidence among hedge funds in United Parcel Service, Inc. (NYSE:UPS)’s potential and outlook.
1. FedEx Corporation (NYSE:FDX)
Number of Hedge Fund Holders: 70
FedEx Corporation (NYSE:FDX), beyond its well-known express parcel delivery services, also has a substantial trucking operation. FedEx Freight provides LTL shipping services and is a leader in expedited shipping, offering solutions for cargo of various sizes with a fleet that includes a range of truck types to accommodate specific freight needs.
In Q4 2023, hedge fund holdings in FedEx Corporation (NYSE:FDX) increased from 67 to 70, indicating a rise in hedge fund interest. However, the total value of these holdings decreased from approximately $2,947 million in Q3 2023 to about $2,306 million in Q4 2023.
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