BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 92,875 Shares of GXO Logistics, Inc. (NYSE:GXO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 42.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,050 shares of the company's stock after acquiring an additional 92,875 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.26% of GXO Logistics worth $16,196,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its stake in GXO Logistics by 25.2% in the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company's stock valued at $162,702,000 after acquiring an additional 648,547 shares during the period. Fort Pitt Capital Group LLC raised its position in shares of GXO Logistics by 2.1% in the third quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company's stock valued at $128,499,000 after purchasing an additional 51,208 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of GXO Logistics by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company's stock worth $121,140,000 after buying an additional 240,766 shares during the last quarter. Swedbank AB boosted its holdings in shares of GXO Logistics by 15.9% during the 2nd quarter. Swedbank AB now owns 1,825,000 shares of the company's stock worth $92,162,000 after buying an additional 250,000 shares during the period. Finally, Eminence Capital LP acquired a new position in GXO Logistics in the 2nd quarter valued at about $79,698,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of GXO Logistics from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Citigroup assumed coverage on GXO Logistics in a report on Wednesday, October 9th. They set a "buy" rating and a $60.00 price target for the company. Oppenheimer upped their price objective on GXO Logistics from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday. TD Cowen increased their price objective on GXO Logistics from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, UBS Group boosted their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, GXO Logistics has an average rating of "Moderate Buy" and a consensus target price of $67.00.

GXO Logistics Price Performance

Shares of GXO traded up $0.48 during mid-day trading on Friday, reaching $60.83. The company had a trading volume of 441,546 shares, compared to its average volume of 941,496. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 67.59, a P/E/G ratio of 1.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The company's 50 day simple moving average is $57.96 and its 200 day simple moving average is $52.99. GXO Logistics, Inc. has a 1-year low of $46.07 and a 1-year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.01. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Analysts expect that GXO Logistics, Inc. will post 2.76 EPS for the current year.

About GXO Logistics

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.