Public Employees Retirement System of Ohio Has $1.75 Million Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Public Employees Retirement System of Ohio lowered its stake in GXO Logistics, Inc. (NYSE:GXO) by 5.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 40,322 shares of the company’s stock after selling 2,309 shares during the period. Public Employees Retirement System of Ohio’s holdings in GXO Logistics were worth $1,754,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kovitz Investment Group Partners LLC grew its position in shares of GXO Logistics by 28,112.6% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company’s stock worth $114,036,000 after purchasing an additional 2,612,223 shares in the last quarter. Norges Bank acquired a new position in GXO Logistics in the 4th quarter valued at approximately $55,266,000. Spruce House Investment Management LLC increased its position in GXO Logistics by 133.3% in the 4th quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company’s stock valued at $91,350,000 after acquiring an additional 1,200,000 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in GXO Logistics in the 4th quarter valued at approximately $47,626,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of GXO Logistics during the fourth quarter worth $46,523,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Price Performance

Shares of NYSE:GXO opened at $40.54 on Tuesday. The company has a 50 day moving average of $37.56 and a 200 day moving average of $42.49. The stock has a market cap of $4.64 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company earned $0.45 EPS. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GXO has been the subject of a number of research reports. Loop Capital cut shares of GXO Logistics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $71.00 to $49.00 in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a “hold” rating and a $45.00 price target on the stock. Oppenheimer dropped their price target on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. Citigroup lowered their price objective on shares of GXO Logistics from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley lowered their price objective on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, GXO Logistics has an average rating of “Moderate Buy” and an average target price of $54.57.

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.