Watershed Asset Management L.L.C. Makes New Investment in GXO Logistics, Inc. (NYSE:GXO)

Watershed Asset Management L.L.C. bought a new position in shares of GXO Logistics, Inc. (NYSE:GXO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,760 shares of the company’s stock, valued at approximately $291,000.

A number of other institutional investors have also recently bought and sold shares of GXO. Handelsbanken Fonder AB grew its holdings in GXO Logistics by 3,033.0% during the 4th quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company’s stock worth $34,873,000 after acquiring an additional 552,000 shares during the period. Payden & Rygel Investment Group bought a new position in shares of GXO Logistics during the third quarter worth $18,272,000. Victory Capital Management Inc. boosted its position in shares of 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 purchasing an additional 270,952 shares in the last quarter. Invesco Ltd. boosted its position in shares of 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 purchasing an additional 270,524 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its position in shares of GXO Logistics by 12,052.9% during the third quarter. WASHINGTON TRUST Co now owns 157,866 shares of the company’s stock worth $9,259,000 after purchasing an additional 156,567 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Stock Up 0.9 %

GXO traded up $0.43 during trading on Tuesday, hitting $50.16. The company had a trading volume of 493,504 shares, compared to its average volume of 874,621. The firm’s 50-day moving average price is $51.29 and its 200 day moving average price is $54.64. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. GXO Logistics, Inc. has a one year low of $48.11 and a one year high of $67.57. The company has a market capitalization of $5.99 billion, a PE ratio of 26.26, a PEG ratio of 2.10 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, topping 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 firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts expect that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GXO. Citigroup reduced their price target on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. TD Cowen lifted their price target on shares of GXO Logistics from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. reduced their price target on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. BNP Paribas raised shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research report on Wednesday, March 27th. Finally, Stifel Nicolaus boosted their price objective on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.54.

Insiders Place Their Bets

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the completion of the sale, the director now owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

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.