Readystate Asset Management LP Acquires 17,854 Shares of GXO Logistics, Inc. (NYSE:GXO)

Readystate Asset Management LP raised its holdings in GXO Logistics, Inc. (NYSE:GXO) by 27.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,254 shares of the company’s stock after buying an additional 17,854 shares during the quarter. Readystate Asset Management LP owned about 0.07% of GXO Logistics worth $5,031,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its position in shares of GXO Logistics by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 49,003 shares of the company’s stock worth $2,997,000 after buying an additional 1,338 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of GXO Logistics by 145.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,246 shares of the company’s stock valued at $749,000 after purchasing an additional 7,249 shares in the last quarter. Foresight Group Ltd Liability Partnership bought a new stake in shares of GXO Logistics during the fourth quarter valued at approximately $419,000. Barclays PLC boosted its position in shares of GXO Logistics by 84.7% during the fourth quarter. Barclays PLC now owns 133,687 shares of the company’s stock valued at $8,177,000 after purchasing an additional 61,313 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of GXO Logistics by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,145,865 shares of the company’s stock valued at $681,681,000 after purchasing an additional 72,764 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Performance

NYSE:GXO traded down $1.08 during mid-day trading on Wednesday, hitting $48.85. 753,544 shares of the company traded hands, compared to its average volume of 883,603. The stock’s fifty day moving average price is $51.84 and its 200-day moving average price is $54.82. GXO Logistics, Inc. has a one year low of $48.12 and a one year high of $67.57. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 2.12 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. Research analysts anticipate that GXO Logistics, Inc. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GXO. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Wednesday, March 27th. Citigroup lowered their price objective 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. TD Cowen lifted their price objective on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lowered their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Finally, Susquehanna boosted their price target on GXO Logistics from $73.00 to $75.00 and gave the stock a “positive” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.17.

Insider Transactions at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the completion of the transaction, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

GXO Logistics 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.