GXO Logistics, Inc. $GXO Stock Holdings Cut by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp reduced its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 24.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,588 shares of the company’s stock after selling 44,360 shares during the quarter. OMERS ADMINISTRATION Corp owned about 0.12% of GXO Logistics worth $5,416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its stake in GXO Logistics by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 28,627 shares of the company’s stock valued at $1,119,000 after purchasing an additional 300 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in GXO Logistics by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company’s stock valued at $1,309,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its stake in GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of GXO Logistics by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 14,004 shares of the company’s stock worth $547,000 after acquiring an additional 380 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of GXO Logistics by 72.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company’s stock worth $37,000 after acquiring an additional 396 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

GXO Logistics Price Performance

GXO opened at $52.96 on Friday. The stock has a fifty day moving average of $51.00 and a 200-day moving average of $43.13. The firm has a market capitalization of $6.06 billion, a P/E ratio of 99.92, a PEG ratio of 1.94 and a beta of 1.64. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. Equities analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GXO shares. Oppenheimer raised their price objective on GXO Logistics from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Truist Financial raised GXO Logistics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $48.00 to $62.00 in a research note on Friday, July 11th. UBS Group raised their price objective on GXO Logistics from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on GXO Logistics from $56.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus raised their price objective on GXO Logistics from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

GXO Logistics Company Profile

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.