Meridian Management Co. Boosts Holdings in GXO Logistics, Inc. (NYSE:GXO)

Meridian Management Co. lifted its stake in GXO Logistics, Inc. (NYSE:GXO) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,732 shares of the company’s stock after purchasing an additional 1,106 shares during the quarter. Meridian Management Co.’s holdings in GXO Logistics were worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of GXO. Eminence Capital LP purchased a new position in GXO Logistics in the 2nd quarter worth about $79,698,000. Swedbank AB purchased a new position in GXO Logistics in the 1st quarter worth about $84,672,000. Spruce House Investment Management LLC raised its position in GXO Logistics by 827.8% in the 2nd quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock worth $45,450,000 after buying an additional 803,000 shares during the last quarter. American Century Companies Inc. raised its position 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 worth $162,702,000 after buying an additional 648,547 shares during the last quarter. Finally, Fort Pitt Capital Group LLC raised its position in GXO Logistics by 30.4% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock worth $122,039,000 after buying an additional 563,057 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GXO shares. TD Cowen boosted their target price on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. UBS Group boosted their target price on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Susquehanna cut their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, Citigroup assumed coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.55.

GXO Logistics Price Performance

NYSE GXO opened at $60.12 on Tuesday. The company has a 50-day moving average price of $55.15 and a 200-day moving average price of $52.15. The firm has a market capitalization of $7.18 billion, a P/E ratio of 66.80, a PEG ratio of 1.79 and a beta of 1.55. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last released its earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $3.16 billion during 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 firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. Equities research analysts anticipate that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

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.