Public Employees Retirement System of Ohio Sells 2,124 Shares of GXO Logistics, Inc. (NYSE:GXO)

Public Employees Retirement System of Ohio decreased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 42,631 shares of the company’s stock after selling 2,124 shares during the period. Public Employees Retirement System of Ohio’s holdings in GXO Logistics were worth $2,220,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GXO. Eminence Capital LP bought a new stake in GXO Logistics in the second quarter valued at about $79,698,000. Spruce House Investment Management LLC increased its stake in shares of GXO Logistics by 827.8% in the 2nd quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock valued at $45,450,000 after acquiring an additional 803,000 shares during the last quarter. American Century Companies Inc. raised its position in shares of GXO Logistics by 25.2% in the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock valued at $162,702,000 after acquiring an additional 648,547 shares during the period. Global Alpha Capital Management Ltd. bought a new position in GXO Logistics during the 3rd quarter worth approximately $32,434,000. Finally, Fort Pitt Capital Group LLC grew its holdings in GXO Logistics by 30.4% during the second quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock valued at $122,039,000 after purchasing an additional 563,057 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GXO. UBS Group lifted their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays lowered their price objective on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. Oppenheimer boosted their price target on GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Susquehanna reduced their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Finally, TD Cowen lifted their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.33.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $46.94 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average price is $57.99 and its two-hundred day moving average price is $52.99. The company has a market cap of $5.61 billion, a PE ratio of 52.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.52. GXO Logistics, Inc. has a twelve month low of $46.07 and a twelve month high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, analysts predict that GXO Logistics, Inc. will post 2.76 EPS for the current year.

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.