First Eagle Investment Management LLC Acquires 76,500 Shares of GXO Logistics, Inc. (NYSE:GXO)

First Eagle Investment Management LLC boosted its position in GXO Logistics, Inc. (NYSE:GXO) by 49.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,584 shares of the company’s stock after purchasing an additional 76,500 shares during the quarter. First Eagle Investment Management LLC owned about 0.19% of GXO Logistics worth $12,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of GXO Logistics during the 4th quarter valued at $59,000. Smithfield Trust Co raised its position in shares of GXO Logistics by 16.5% during the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock valued at $73,000 after buying an additional 195 shares in the last quarter. CWM LLC raised its position in shares of GXO Logistics by 28.1% during the 4th quarter. CWM LLC now owns 1,778 shares of the company’s stock valued at $109,000 after buying an additional 390 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of GXO Logistics by 16.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $122,000 after buying an additional 287 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of GXO Logistics during the 4th quarter valued at $135,000. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Stock Up 0.1 %

NYSE GXO traded up $0.03 during trading hours on Friday, reaching $54.01. 136,295 shares of the company’s stock traded hands, compared to its average volume of 863,626. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $6.45 billion, a PE ratio of 38.84, a PEG ratio of 1.65 and a beta of 1.60. GXO Logistics, Inc. has a 52-week low of $46.38 and a 52-week high of $67.48. The firm has a 50-day simple moving average of $50.40 and a 200 day simple moving average of $52.19.

GXO Logistics (NYSE:GXO) last issued its earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts anticipate that GXO Logistics, Inc. will post 2.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GXO. Loop Capital lowered their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. BNP Paribas raised shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Wednesday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 target price on shares of GXO Logistics in a report on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, Wells Fargo & Company assumed coverage on shares of GXO Logistics in a report on Friday, June 7th. They set an “overweight” rating and a $58.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Activity

In other GXO Logistics news, CEO Malcolm Wilson bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the transaction, the chief executive officer now owns 100,814 shares of the company’s stock, valued at approximately $5,035,659.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by corporate 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.