Louisiana State Employees Retirement System Invests $2.04 Million in GXO Logistics, Inc. (NYSE:GXO)

Louisiana State Employees Retirement System acquired a new position in shares of GXO Logistics, Inc. (NYSE:GXO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 33,400 shares of the company’s stock, valued at approximately $2,043,000.

Other hedge funds have also made changes to their positions in the company. Citigroup Inc. raised its position in shares of GXO Logistics by 25.6% in the 1st quarter. Citigroup Inc. now owns 16,948 shares of the company’s stock worth $1,208,000 after buying an additional 3,457 shares during the period. Bank of Montreal Can raised its position in shares of GXO Logistics by 175.7% in the 1st quarter. Bank of Montreal Can now owns 24,502 shares of the company’s stock worth $1,843,000 after buying an additional 15,615 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of GXO Logistics by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,133 shares of the company’s stock worth $2,578,000 after buying an additional 3,445 shares during the period. Raymond James Trust N.A. raised its position in shares of GXO Logistics by 44.8% in the 1st quarter. Raymond James Trust N.A. now owns 5,979 shares of the company’s stock worth $427,000 after buying an additional 1,849 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of GXO Logistics by 2.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 169,181 shares of the company’s stock worth $12,069,000 after buying an additional 4,084 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GXO. TD Cowen raised their price objective on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. cut their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. BNP Paribas raised GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Wednesday, March 27th. Citigroup dropped their target price on GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Finally, Susquehanna lifted their target price on GXO Logistics from $73.00 to $75.00 and gave the stock a “positive” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.17.

GXO Logistics Stock Performance

Shares of NYSE GXO opened at $48.85 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 2.12 and a beta of 1.64. The business’s 50-day simple moving average is $51.84 and its 200-day simple moving average is $54.82. GXO Logistics, Inc. has a 52 week low of $48.12 and a 52 week high of $67.57.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 EPS. As a group, equities research analysts expect that GXO Logistics, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

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.