New England Research & Management Inc. Acquires 7,850 Shares of GXO Logistics, Inc. (NYSE:GXO)

New England Research & Management Inc. increased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 82.4% in the first quarter, HoldingsChannel reports. The firm owned 17,375 shares of the company’s stock after buying an additional 7,850 shares during the period. New England Research & Management Inc.’s holdings in GXO Logistics were worth $934,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new position in GXO Logistics during the third quarter worth about $31,000. Headlands Technologies LLC bought a new position in GXO Logistics during the fourth quarter worth about $59,000. CWM LLC boosted its holdings in shares of GXO Logistics by 28.1% during the fourth quarter. CWM LLC now owns 1,778 shares of the company’s stock worth $109,000 after acquiring an additional 390 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of GXO Logistics by 16.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock worth $122,000 after acquiring an additional 287 shares during the period. Finally, KBC Group NV bought a new stake in shares of GXO Logistics during the fourth quarter worth approximately $135,000. Institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GXO shares. TD Cowen boosted their price objective on GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus restated a “buy” rating and set a $74.00 price objective on shares of GXO Logistics in a report on Wednesday, May 15th. Wells Fargo & Company started coverage on GXO Logistics in a report on Friday, June 7th. They set an “overweight” rating and a $58.00 price objective for the company. 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 report on Tuesday, April 9th. Finally, BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.85.

GXO Logistics Stock Up 1.8 %

Shares of GXO opened at $50.51 on Friday. GXO Logistics, Inc. has a one year low of $46.38 and a one year high of $67.57. The company has a market cap of $6.03 billion, a P/E ratio of 36.34, a P/E/G ratio of 1.49 and a beta of 1.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $50.25 and a two-hundred day simple moving average of $53.18.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Research analysts forecast that GXO Logistics, Inc. will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at GXO Logistics

In other news, CEO Malcolm Wilson acquired 10,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the transaction, the chief executive officer now directly owns 100,814 shares in the company, valued at $5,035,659.30. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

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.