State of Michigan Retirement System Boosts Stake in GXO Logistics, Inc. (NYSE:GXO)

State of Michigan Retirement System grew its stake in GXO Logistics, Inc. (NYSE:GXOFree Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,227 shares of the company’s stock after acquiring an additional 700 shares during the quarter. State of Michigan Retirement System’s holdings in GXO Logistics were worth $1,571,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in GXO Logistics by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 11,145,865 shares of the company’s stock valued at $681,681,000 after purchasing an additional 72,764 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of GXO Logistics by 2.6% during the 4th quarter. Clearbridge Investments LLC now owns 2,941,518 shares of the company’s stock worth $179,903,000 after acquiring an additional 75,712 shares in the last quarter. Fort Pitt Capital Group LLC raised its stake in shares of GXO Logistics by 60.4% during the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after acquiring an additional 698,180 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in GXO Logistics by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,134,844 shares of the company’s stock valued at $69,407,000 after acquiring an additional 21,454 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in GXO Logistics by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 1,126,959 shares of the company’s stock valued at $68,925,000 after acquiring an additional 33,320 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Malcolm Wilson purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $49.95 per share, with a total value of $499,500.00. Following the completion of the acquisition, the chief executive officer now owns 100,814 shares of the company’s stock, valued at approximately $5,035,659.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by corporate insiders.

GXO Logistics Stock Down 2.4 %

NYSE:GXO opened at $48.21 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. The company’s fifty day moving average price is $50.18 and its 200-day moving average price is $52.81. GXO Logistics, Inc. has a 1-year low of $46.38 and a 1-year high of $67.57. The firm has a market capitalization of $5.76 billion, a P/E ratio of 34.68, a PEG ratio of 1.48 and a beta of 1.60.

GXO Logistics (NYSE:GXOGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. As a group, equities research analysts anticipate that GXO Logistics, Inc. will post 2.77 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GXO shares. TD Cowen raised their price objective on GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. lowered their price target on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a report on Wednesday, March 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price on shares of GXO Logistics in a research note on Wednesday, May 15th. Finally, Loop Capital cut their price target on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, GXO Logistics has a consensus rating of “Moderate Buy” and an average price target of $68.85.

Read Our Latest Research Report on GXO

GXO Logistics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GXO Logistics (NYSE:GXO)

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