GXO Logistics, Inc. (NYSE:GXO) Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. raised its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 128.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,403 shares of the company’s stock after acquiring an additional 12,015 shares during the period. Sumitomo Life Insurance Co.’s holdings in GXO Logistics were worth $1,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GXO. Morgan Stanley lifted its stake in shares of GXO Logistics by 58.9% in the 4th quarter. Morgan Stanley now owns 2,746,808 shares of the company’s stock valued at $117,261,000 after purchasing an additional 1,017,980 shares during the period. Mar Vista Investment Partners LLC purchased a new stake in shares of GXO Logistics during the first quarter worth $71,087,000. Norges Bank purchased a new stake in shares of GXO Logistics during the fourth quarter worth $41,706,000. Vanguard Group Inc. grew its holdings in shares of GXO Logistics by 8.8% during the third quarter. Vanguard Group Inc. now owns 10,796,129 shares of the company’s stock worth $378,512,000 after buying an additional 870,382 shares in the last quarter. Finally, Payden & Rygel Investment Group purchased a new stake in shares of GXO Logistics during the third quarter worth $18,272,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Stock Down 1.3 %

GXO opened at $50.87 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 2.15 and a beta of 1.64. The business has a 50-day moving average of $52.15 and a two-hundred day moving average of $54.98. GXO Logistics, Inc. has a 12 month low of $48.12 and a 12 month high of $67.57.

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

Insider Buying and Selling at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the sale, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GXO shares. TD Cowen upped their price objective on shares of GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research note on Wednesday, March 27th. Stifel Nicolaus increased their price target on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. decreased their price target on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Finally, Citigroup cut their price target on GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.17.

GXO Logistics Company Profile

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.