4,760 Shares in GXO Logistics, Inc. (NYSE:GXO) Purchased by Watershed Asset Management L.L.C.

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

Other hedge funds have also bought and sold shares of the company. Payden & Rygel Investment Group acquired a new position in GXO Logistics in the third quarter worth about $18,272,000. Amalgamated Bank boosted its stake in GXO Logistics by 13.9% in the third quarter. Amalgamated Bank now owns 87,426 shares of the company’s stock valued at $5,128,000 after acquiring an additional 10,660 shares during the period. Federated Hermes Inc. boosted its stake in GXO Logistics by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 1,126,959 shares of the company’s stock valued at $68,925,000 after acquiring an additional 33,320 shares during the period. Retirement Planning Co of New England Inc. boosted its stake in GXO Logistics by 79.0% in the third quarter. Retirement Planning Co of New England Inc. now owns 22,978 shares of the company’s stock valued at $1,348,000 after acquiring an additional 10,141 shares during the period. Finally, WASHINGTON TRUST Co boosted its stake in GXO Logistics by 17.0% in the fourth quarter. WASHINGTON TRUST Co now owns 184,697 shares of the company’s stock valued at $11,296,000 after acquiring an additional 26,831 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GXO. Susquehanna lifted their target price on GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, February 15th. TD Cowen lifted their target price on GXO Logistics from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research note on Wednesday, March 27th. Stifel Nicolaus lifted their target price on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. reduced their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.54.

Insider Buying and Selling

In related news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

GXO Logistics Price Performance

NYSE:GXO traded up $0.43 during midday trading on Tuesday, hitting $50.16. 493,504 shares of the stock were exchanged, compared to its average volume of 874,621. 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 price-to-earnings ratio of 26.26, a P/E/G ratio of 2.10 and a beta of 1.64. The business has a 50-day moving average price of $51.29 and a two-hundred day moving average price of $54.64. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55.

GXO Logistics (NYSE:GXO) last announced its 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 return on equity of 10.94% and a net margin of 2.34%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that GXO Logistics, Inc. will post 2.77 EPS for the current year.

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.