Allspring Global Investments Holdings LLC boosted its holdings in shares of GXO Logistics, Inc. (NYSE:GXO – Get Rating) by 18,283.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,725 shares of the company’s stock after buying an additional 313,013 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.27% of GXO Logistics worth $11,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Pendal Group Ltd boosted its stake in shares of GXO Logistics by 87.9% in the third quarter. Pendal Group Ltd now owns 6,105,398 shares of the company’s stock worth $214,055,000 after buying an additional 2,856,645 shares during the last quarter. State Street Corp lifted its position in shares of GXO Logistics by 2.7% in the second quarter. State Street Corp now owns 2,965,156 shares of the company’s stock valued at $128,302,000 after acquiring an additional 78,212 shares in the last quarter. Mar Vista Investment Partners LLC increased its holdings in shares of GXO Logistics by 32.9% in the second quarter. Mar Vista Investment Partners LLC now owns 1,323,898 shares of the company’s stock valued at $57,285,000 after purchasing an additional 327,447 shares during the last quarter. Invesco Ltd. increased its holdings in shares of GXO Logistics by 0.6% in the first quarter. Invesco Ltd. now owns 1,106,440 shares of the company’s stock valued at $78,934,000 after purchasing an additional 6,851 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of GXO Logistics by 11.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 941,342 shares of the company’s stock valued at $40,732,000 after purchasing an additional 95,940 shares during the last quarter. 99.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GXO has been the subject of several recent analyst reports. BNP Paribas initiated coverage on GXO Logistics in a research note on Thursday, December 1st. They set a “neutral” rating and a $40.00 target price for the company. Jefferies Financial Group raised their target price on GXO Logistics from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday. Barclays raised their target price on GXO Logistics from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup cut their target price on GXO Logistics from $61.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, October 7th. Finally, Susquehanna cut their target price on GXO Logistics from $55.00 to $54.00 in a research note on Thursday, November 10th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and an average price target of $63.50.
GXO Logistics Trading Up 2.7 %
NYSE:GXO opened at $53.26 on Friday. The firm has a market cap of $6.32 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 1.56 and a beta of 1.54. The stock has a fifty day moving average price of $43.51 and a 200 day moving average price of $42.52. GXO Logistics, Inc. has a 12-month low of $32.10 and a 12-month high of $91.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.
GXO Logistics (NYSE:GXO – Get Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.29 billion. GXO Logistics had a return on equity of 12.90% and a net margin of 2.36%. Sell-side analysts anticipate that GXO Logistics, Inc. will post 2.75 earnings per share for the current fiscal year.
Insider Activity at GXO Logistics
In related news, CEO Malcolm Wilson bought 4,174 shares of the firm’s stock in a transaction that occurred on Friday, November 25th. The stock was purchased at an average cost of $43.97 per share, for a total transaction of $183,530.78. Following the completion of the acquisition, the chief executive officer now owns 45,509 shares in the company, valued at approximately $2,001,030.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.10% of the stock is currently owned by company insiders.
GXO Logistics Profile
GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.
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