Maryland State Retirement & Pension System Sells 1,205 Shares of GXO Logistics, Inc. $GXO

Maryland State Retirement & Pension System decreased its holdings in GXO Logistics, Inc. (NYSE:GXO) by 18.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,486 shares of the company’s stock after selling 1,205 shares during the period. Maryland State Retirement & Pension System’s holdings in GXO Logistics were worth $214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in GXO Logistics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 11,370,657 shares of the company’s stock valued at $444,365,000 after acquiring an additional 37,852 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of GXO Logistics by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,798,170 shares of the company’s stock worth $121,718,000 after buying an additional 50,682 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of GXO Logistics by 28,112.6% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company’s stock worth $114,036,000 after buying an additional 2,612,223 shares during the period. Spruce House Investment Management LLC grew its stake in GXO Logistics by 133.3% in the 4th quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company’s stock valued at $91,350,000 after buying an additional 1,200,000 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in GXO Logistics by 66.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company’s stock valued at $71,102,000 after acquiring an additional 724,535 shares during the period. 90.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Truist Financial upgraded GXO Logistics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $48.00 to $62.00 in a research report on Friday, July 11th. UBS Group boosted their target price on shares of GXO Logistics from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Citigroup upped their price target on shares of GXO Logistics from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Finally, Barclays lifted their price objective on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

GXO Logistics Stock Performance

NYSE GXO opened at $53.3120 on Wednesday. The firm’s fifty day moving average price is $49.60 and its two-hundred day moving average price is $42.67. The stock has a market cap of $6.10 billion, a PE ratio of 100.59, a PEG ratio of 1.92 and a beta of 1.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. On average, equities analysts expect that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

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.