24,400 Shares in GXO Logistics, Inc. (NYSE:GXO) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,400 shares of the company's stock, valued at approximately $1,061,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System raised its position in shares of GXO Logistics by 0.8% during the 4th quarter. Arizona State Retirement System now owns 34,671 shares of the company's stock worth $1,508,000 after acquiring an additional 281 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in GXO Logistics by 33.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company's stock valued at $60,000 after acquiring an additional 290 shares during the last quarter. Pacer Advisors Inc. boosted its stake in GXO Logistics by 1.1% in the fourth quarter. Pacer Advisors Inc. now owns 30,815 shares of the company's stock valued at $1,340,000 after acquiring an additional 338 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of GXO Logistics by 33.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock worth $60,000 after purchasing an additional 348 shares during the last quarter. Finally, Stablepoint Partners LLC increased its position in shares of GXO Logistics by 4.2% during the fourth quarter. Stablepoint Partners LLC now owns 15,916 shares of the company's stock worth $692,000 after purchasing an additional 637 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GXO has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. UBS Group lowered their target price on shares of GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Morgan Stanley reduced their price target on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Barclays lowered their price objective on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group reduced their target price on shares of GXO Logistics from $63.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.00.

GXO Logistics Price Performance

Shares of GXO traded down $3.75 during mid-day trading on Thursday, hitting $36.37. The company's stock had a trading volume of 2,323,771 shares, compared to its average volume of 1,180,859. 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, Inc. has a 1-year low of $34.51 and a 1-year high of $63.33. The firm has a market capitalization of $4.35 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.34 and a beta of 1.62. The firm has a 50-day simple moving average of $40.83 and a 200 day simple moving average of $48.53.

GXO Logistics (NYSE:GXO - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. Analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal 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.