Daiwa Securities Group Inc. Purchases 297 Shares of GXO Logistics, Inc. (NYSE:GXO)

Daiwa Securities Group Inc. boosted its position in GXO Logistics, Inc. (NYSE:GXO) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,207 shares of the company’s stock after acquiring an additional 297 shares during the quarter. Daiwa Securities Group Inc.’s holdings in GXO Logistics were worth $1,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GXO. Payden & Rygel Investment Group bought a new stake in GXO Logistics during the 3rd quarter worth approximately $18,272,000. Amalgamated Bank increased its holdings in GXO Logistics by 13.9% during the 3rd quarter. Amalgamated Bank now owns 87,426 shares of the company’s stock worth $5,128,000 after purchasing an additional 10,660 shares in the last quarter. Retirement Planning Co of New England Inc. increased its holdings in GXO Logistics by 79.0% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 22,978 shares of the company’s stock worth $1,348,000 after purchasing an additional 10,141 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in GXO Logistics by 17.0% during the 4th quarter. WASHINGTON TRUST Co now owns 184,697 shares of the company’s stock worth $11,296,000 after purchasing an additional 26,831 shares in the last quarter. Finally, UBS Group AG increased its holdings in GXO Logistics by 30.4% during the 3rd quarter. UBS Group AG now owns 118,469 shares of the company’s stock worth $6,948,000 after purchasing an additional 27,616 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Cowen boosted their price objective on GXO Logistics from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. decreased their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Stifel Nicolaus boosted their price objective on GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. BNP Paribas raised GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a report on Wednesday, March 27th. Finally, Loop Capital reduced their target price on GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.54.

Insider Activity at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now owns 20,851 shares in the company, valued at $1,042,550. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

GXO Logistics Price Performance

GXO Logistics stock opened at $50.16 on Wednesday. GXO Logistics, Inc. has a 12 month low of $48.11 and a 12 month high of $67.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55. The business’s 50 day simple moving average is $51.29 and its 200 day simple moving average is $54.64. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 2.10 and a beta of 1.64.

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

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.