Louisiana State Employees Retirement System Buys New Position in GXO Logistics, Inc. (NYSE:GXO)

Louisiana State Employees Retirement System bought a new stake in shares of GXO Logistics, Inc. (NYSE:GXO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 33,400 shares of the company’s stock, valued at approximately $2,043,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in GXO Logistics by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company’s stock valued at $378,512,000 after buying an additional 870,382 shares in the last quarter. State Street Corp increased its position in GXO Logistics by 0.6% during the 2nd quarter. State Street Corp now owns 3,342,442 shares of the company’s stock valued at $209,972,000 after buying an additional 18,838 shares in the last quarter. Clearbridge Investments LLC increased its position in GXO Logistics by 0.4% during the 3rd quarter. Clearbridge Investments LLC now owns 2,865,806 shares of the company’s stock valued at $168,080,000 after buying an additional 10,830 shares in the last quarter. Morgan Stanley increased its position in GXO Logistics by 58.9% during the 4th quarter. Morgan Stanley now owns 2,746,808 shares of the company’s stock valued at $117,261,000 after buying an additional 1,017,980 shares in the last quarter. Finally, FMR LLC increased its position in GXO Logistics by 0.4% during the 3rd quarter. FMR LLC now owns 2,173,881 shares of the company’s stock valued at $127,498,000 after buying an additional 8,668 shares in the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Price Performance

NYSE:GXO opened at $48.85 on Thursday. GXO Logistics, Inc. has a one year low of $48.12 and a one year high of $67.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $5.83 billion, a PE ratio of 25.58, a P/E/G ratio of 2.12 and a beta of 1.64. The stock has a 50 day moving average price of $51.84 and a 200 day moving average price of $54.82.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results 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 firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts expect that GXO Logistics, Inc. will post 2.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GXO has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. BNP Paribas raised 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. TD Cowen increased their price objective on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Susquehanna upped their target price on GXO Logistics from $73.00 to $75.00 and gave the stock a “positive” rating in a research note on Thursday, February 15th. Finally, Citigroup lowered their target price on GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.17.

Insider Activity at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the firm’s 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 completion of the sale, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

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.