GXO Logistics, Inc. (NYSE:GXO) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 29,227 shares of the company’s stock after buying an additional 700 shares during the period. State of Michigan Retirement System’s holdings in GXO Logistics were worth $1,571,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Blue Zone Wealth Advisors LLC lifted its stake in shares of GXO Logistics by 0.5% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 46,898 shares of the company’s stock worth $2,521,000 after purchasing an additional 229 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in GXO Logistics by 21.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 21,487 shares of the company’s stock worth $1,155,000 after buying an additional 3,740 shares during the period. New England Research & Management Inc. lifted its position in GXO Logistics by 82.4% during the first quarter. New England Research & Management Inc. now owns 17,375 shares of the company’s stock worth $934,000 after buying an additional 7,850 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in GXO Logistics by 35.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,308 shares of the company’s stock worth $2,382,000 after buying an additional 11,543 shares during the last quarter. Finally, Security National Bank grew its holdings in GXO Logistics by 0.5% in the 1st quarter. Security National Bank now owns 71,456 shares of the company’s stock valued at $3,841,000 after buying an additional 348 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price on shares of GXO Logistics in a research report on Tuesday, May 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price target on shares of GXO Logistics in a report on Wednesday, May 15th. TD Cowen boosted their price objective on shares of GXO Logistics from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. BNP Paribas raised GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company assumed coverage on shares of GXO Logistics in a report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average target price of $68.85.

GXO Logistics Price Performance

GXO opened at $48.21 on Friday. GXO Logistics, Inc. has a twelve month low of $46.38 and a twelve month high of $67.57. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.48 and a beta of 1.60. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $50.18 and a 200 day simple moving average of $52.81.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts expect that GXO Logistics, Inc. will post 2.77 EPS for the current fiscal year.

Insider Activity at GXO Logistics

In other GXO Logistics news, CEO Malcolm Wilson acquired 10,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the acquisition, the chief executive officer now directly owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

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.