KLP Kapitalforvaltning AS Grows Stake in GXO Logistics, Inc. $GXO

KLP Kapitalforvaltning AS increased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,900 shares of the company’s stock after purchasing an additional 2,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in GXO Logistics were worth $1,213,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GXO. Larson Financial Group LLC grew its position in shares of GXO Logistics by 2,460.7% during the first quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock worth $28,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC grew its position in shares of GXO Logistics by 57.0% during the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of GXO Logistics during the first quarter worth about $34,000. Northwestern Mutual Wealth Management Co. grew its position in shares of GXO Logistics by 72.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company’s stock worth $37,000 after purchasing an additional 396 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of GXO Logistics by 63.2% during the first quarter. Covestor Ltd now owns 1,645 shares of the company’s stock worth $64,000 after purchasing an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Price Performance

NYSE:GXO opened at $54.03 on Wednesday. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 101.95, a PEG ratio of 2.12 and a beta of 1.64. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33. The business has a 50 day simple moving average of $52.24 and a 200-day simple moving average of $46.01. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $3.30 billion during 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 company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. Equities analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GXO. Susquehanna increased their price target on GXO Logistics from $58.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Truist Financial set a $65.00 price target on GXO Logistics in a report on Tuesday. Oppenheimer raised their price target on GXO Logistics from $55.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Wells Fargo & Company raised their price target on GXO Logistics from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Finally, Stifel Nicolaus raised their price target on GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average price target of $61.57.

About GXO Logistics

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.