GXO Logistics, Inc. (NYSE:GXO) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 105.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 968,267 shares of the company's stock after purchasing an additional 495,829 shares during the quarter. Brown Brothers Harriman & Co. owned 0.81% of GXO Logistics worth $50,418,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Independent Advisor Alliance boosted its position in GXO Logistics by 10.4% in the 3rd quarter. Independent Advisor Alliance now owns 24,749 shares of the company's stock valued at $1,289,000 after buying an additional 2,338 shares during the period. Algert Global LLC boosted its holdings in shares of GXO Logistics by 179.5% in the third quarter. Algert Global LLC now owns 104,631 shares of the company's stock valued at $5,448,000 after purchasing an additional 67,190 shares during the period. Cerity Partners LLC grew its stake in GXO Logistics by 3.7% in the third quarter. Cerity Partners LLC now owns 103,523 shares of the company's stock worth $5,390,000 after purchasing an additional 3,719 shares in the last quarter. Raymond James Trust N.A. increased its holdings in GXO Logistics by 31.5% during the 3rd quarter. Raymond James Trust N.A. now owns 25,373 shares of the company's stock worth $1,321,000 after purchasing an additional 6,078 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in GXO Logistics by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,197,898 shares of the company's stock valued at $62,375,000 after purchasing an additional 17,953 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Performance

Shares of GXO stock traded up $1.15 during mid-day trading on Monday, reaching $61.62. The stock had a trading volume of 853,398 shares, compared to its average volume of 930,589. GXO Logistics, Inc. has a 1-year low of $46.07 and a 1-year high of $63.33. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 67.19, a PEG ratio of 1.82 and a beta of 1.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The business's fifty day moving average is $57.06 and its 200-day moving average is $52.71.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the company earned $0.69 EPS. GXO Logistics's quarterly revenue was up 27.8% on a year-over-year basis. On average, research analysts forecast that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on GXO shares. UBS Group raised their price target on GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. TD Cowen upped their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Susquehanna cut their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a "positive" rating on the stock in a report on Thursday, September 26th. Barclays upped their target price on GXO Logistics from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 13th. Finally, Citigroup began coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a "buy" rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, GXO Logistics has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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.