Mathes Company Inc. Buys 1,500 Shares of GXO Logistics, Inc. (NYSE:GXO)

Mathes Company Inc. increased its stake in GXO Logistics, Inc. (NYSE:GXO) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,300 shares of the company’s stock after buying an additional 1,500 shares during the quarter. Mathes Company Inc.’s holdings in GXO Logistics were worth $1,278,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GXO. Jump Financial LLC purchased a new position in shares of GXO Logistics during the fourth quarter valued at approximately $203,000. Envestnet Portfolio Solutions Inc. boosted its holdings in GXO Logistics by 7.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,708 shares of the company’s stock valued at $288,000 after acquiring an additional 325 shares during the period. Quadrant Capital Group LLC grew its position in GXO Logistics by 16.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $122,000 after acquiring an additional 287 shares during the last quarter. Brown Advisory Inc. increased its stake in GXO Logistics by 122.1% in the fourth quarter. Brown Advisory Inc. now owns 23,415 shares of the company’s stock worth $1,432,000 after purchasing an additional 12,872 shares during the period. Finally, Norges Bank purchased a new stake in GXO Logistics in the fourth quarter worth $65,002,000. Institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

Shares of NYSE:GXO opened at $51.75 on Thursday. The firm has a 50 day moving average of $50.66 and a 200 day moving average of $50.42. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 1.46 and a beta of 1.58. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $63.07.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, sell-side analysts predict that GXO Logistics, Inc. will post 2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group reduced their price target on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company started coverage on GXO Logistics in a report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.45.

GXO Logistics 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.