Federated Hermes Inc. Boosts Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Federated Hermes Inc. increased its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,126,959 shares of the company’s stock after buying an additional 33,320 shares during the period. Federated Hermes Inc. owned 0.95% of GXO Logistics worth $68,925,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in GXO Logistics by 25.6% in the 1st quarter. Citigroup Inc. now owns 16,948 shares of the company’s stock valued at $1,208,000 after buying an additional 3,457 shares during the period. Bank of Montreal Can boosted its position in GXO Logistics by 175.7% in the 1st quarter. Bank of Montreal Can now owns 24,502 shares of the company’s stock valued at $1,843,000 after buying an additional 15,615 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of GXO Logistics by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,133 shares of the company’s stock worth $2,578,000 after acquiring an additional 3,445 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of GXO Logistics by 44.8% during the first quarter. Raymond James Trust N.A. now owns 5,979 shares of the company’s stock worth $427,000 after acquiring an additional 1,849 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in shares of GXO Logistics by 2.5% in the first quarter. Lord Abbett & CO. LLC now owns 169,181 shares of the company’s stock valued at $12,069,000 after acquiring an additional 4,084 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Trading Down 1.4 %

Shares of GXO Logistics stock opened at $48.16 on Friday. The company has a market capitalization of $5.75 billion, a P/E ratio of 25.21, a PEG ratio of 2.06 and a beta of 1.64. GXO Logistics, Inc. has a 1 year low of $48.11 and a 1 year high of $67.57. The company’s fifty day moving average is $51.67 and its two-hundred day moving average is $54.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts forecast that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GXO. TD Cowen upped their price target on GXO Logistics from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. lowered their price target on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. BNP Paribas upgraded shares of 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. Susquehanna boosted their target price on shares of 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 cut their price target 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 research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.54.

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.