1,270,483 Shares in GXO Logistics, Inc. (NYSE:GXO) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,270,483 shares of the company's stock, valued at approximately $55,266,000. Norges Bank owned 1.06% of GXO Logistics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GXO Logistics by 2.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company's stock worth $26,153,000 after buying an additional 12,208 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of GXO Logistics during the 3rd quarter worth $227,000. Holocene Advisors LP grew its holdings in shares of GXO Logistics by 7.2% in the 3rd quarter. Holocene Advisors LP now owns 100,302 shares of the company's stock worth $5,223,000 after acquiring an additional 6,767 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of GXO Logistics during the third quarter worth $271,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of GXO Logistics during the third quarter worth $245,000. Institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Performance

Shares of GXO traded down $2.54 during midday trading on Tuesday, reaching $31.58. 2,912,859 shares of the stock were exchanged, compared to its average volume of 1,203,819. The stock's 50 day simple moving average is $39.80 and its 200 day simple moving average is $47.98. The company has a market cap of $3.77 billion, a P/E ratio of 28.20, a PEG ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a twelve month low of $31.31 and a twelve month high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping 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%. On average, sell-side analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays decreased their price objective on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Oppenheimer decreased their target price on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, February 18th. Citigroup dropped their price target on GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday. UBS Group decreased their price objective on GXO Logistics from $72.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Finally, Loop Capital cut GXO Logistics from a "buy" rating to a "hold" rating and lowered their target price for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.93.

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.