GXO Logistics, Inc. (NYSE:GXO) Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. grew its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 82.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,375 shares of the company’s stock after purchasing an additional 7,850 shares during the period. New England Research & Management Inc.’s holdings in GXO Logistics were worth $934,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of GXO Logistics by 3.0% during the fourth quarter. Federated Hermes Inc. now owns 1,126,959 shares of the company’s stock worth $68,925,000 after purchasing an additional 33,320 shares during the period. Bayberry Capital Partners LP raised its holdings in shares of GXO Logistics by 46.9% during the fourth quarter. Bayberry Capital Partners LP now owns 238,000 shares of the company’s stock worth $14,556,000 after purchasing an additional 76,000 shares during the period. Motley Fool Wealth Management LLC raised its holdings in shares of GXO Logistics by 59.8% during the fourth quarter. Motley Fool Wealth Management LLC now owns 184,398 shares of the company’s stock worth $11,258,000 after purchasing an additional 68,989 shares during the period. Fort Pitt Capital Group LLC raised its holdings in shares of GXO Logistics by 60.4% during the first quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after purchasing an additional 698,180 shares during the period. Finally, UBS Group AG raised its holdings in shares of GXO Logistics by 14.3% during the fourth quarter. UBS Group AG now owns 135,367 shares of the company’s stock worth $8,279,000 after purchasing an additional 16,898 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of GXO Logistics in a report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price objective on the stock. TD Cowen increased their price objective on shares of GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 price objective on shares of GXO Logistics in a report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Finally, Loop Capital dropped their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.85.

GXO Logistics Stock Performance

Shares of GXO opened at $50.51 on Friday. The firm has a 50-day moving average price of $50.25 and a 200 day moving average price of $53.18. The firm has a market capitalization of $6.03 billion, a PE ratio of 36.34, a P/E/G ratio of 1.49 and a beta of 1.61. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.52. GXO Logistics, Inc. has a 52-week low of $46.38 and a 52-week high of $67.57.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Malcolm Wilson bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the acquisition, the chief executive officer now directly owns 100,814 shares of the company’s stock, valued at approximately $5,035,659.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

About GXO Logistics

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.