OLD National Bancorp IN Invests $208,000 in GXO Logistics, Inc. (NYSE:GXO)

OLD National Bancorp IN acquired a new position in GXO Logistics, Inc. (NYSE:GXO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,407 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors have also made changes to their positions in GXO. Handelsbanken Fonder AB lifted its position in shares of GXO Logistics by 3,033.0% in the fourth quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company’s stock worth $34,873,000 after purchasing an additional 552,000 shares in the last quarter. Payden & Rygel Investment Group acquired a new position in GXO Logistics during the third quarter worth $18,272,000. Victory Capital Management Inc. increased its holdings in GXO Logistics by 136.5% during the third quarter. Victory Capital Management Inc. now owns 469,391 shares of the company’s stock worth $27,530,000 after buying an additional 270,952 shares during the last quarter. Invesco Ltd. increased its holdings in GXO Logistics by 22.6% during the third quarter. Invesco Ltd. now owns 1,466,267 shares of the company’s stock worth $85,997,000 after buying an additional 270,524 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in GXO Logistics by 31.5% during the third quarter. Lord Abbett & CO. LLC now owns 526,000 shares of the company’s stock worth $30,850,000 after buying an additional 126,000 shares during the last quarter. Institutional investors own 90.67% of the company’s stock.

Insider Buying and Selling

In related news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were 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 of the company’s stock, valued at $1,042,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

GXO Logistics Trading Down 0.0 %

GXO stock opened at $50.52 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98. The company’s 50-day simple moving average is $50.97 and its 200 day simple moving average is $54.54. GXO Logistics, Inc. has a 52 week low of $48.11 and a 52 week high of $67.57. The company has a market capitalization of $6.03 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.06 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last released 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. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the company posted $0.83 earnings per share. GXO Logistics’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GXO. Stifel Nicolaus boosted their target price on shares of GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. TD Cowen boosted their target price on shares of GXO Logistics from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday. Loop Capital lowered their target price on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Susquehanna upped their price objective on shares of GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. One 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 currently has a consensus rating of “Moderate Buy” and an average price target of $69.69.

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.