Impax Asset Management Group plc Acquires 6,630 Shares of GXO Logistics, Inc. (NYSE:GXO)

Impax Asset Management Group plc grew its holdings in GXO Logistics, Inc. (NYSE:GXO) by 34.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,652 shares of the company’s stock after acquiring an additional 6,630 shares during the quarter. Impax Asset Management Group plc’s holdings in GXO Logistics were worth $1,336,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in GXO Logistics by 34.3% during the 1st quarter. SG Americas Securities LLC now owns 4,816 shares of the company’s stock worth $259,000 after purchasing an additional 1,230 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of GXO Logistics by 0.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 110,563 shares of the company’s stock worth $5,579,000 after acquiring an additional 1,010 shares during the period. Vanguard Group Inc. lifted its position in GXO Logistics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock valued at $603,636,000 after acquiring an additional 82,485 shares in the last quarter. Seven Eight Capital LP acquired a new position in GXO Logistics in the 1st quarter worth $1,871,000. Finally, Clearbridge Investments LLC increased its holdings in GXO Logistics by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company’s stock worth $158,967,000 after purchasing an additional 15,463 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GXO shares. Barclays upped their price objective on GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup started coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. TD Cowen boosted their price objective 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. UBS Group increased their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Susquehanna lowered their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, GXO Logistics presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Stock Down 1.8 %

Shares of GXO stock opened at $58.65 on Friday. GXO Logistics, Inc. has a 52-week low of $46.07 and a 52-week high of $63.33. 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 stock has a market cap of $7.01 billion, a price-to-earnings ratio of 65.17, a PEG ratio of 1.82 and a beta of 1.55. The firm’s 50-day moving average is $56.06 and its 200-day moving average is $52.39.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business’s revenue was up 27.8% on a year-over-year basis. During the same period last year, the firm posted $0.69 earnings per share. Sell-side analysts predict that GXO Logistics, Inc. will post 2.77 EPS for the current year.

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.