National Bank of Canada FI Acquires 8,468 Shares of GXO Logistics, Inc. (NYSE:GXO)

National Bank of Canada FI lifted its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 4.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 184,883 shares of the company’s stock after buying an additional 8,468 shares during the period. National Bank of Canada FI owned about 0.15% of GXO Logistics worth $8,042,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in GXO Logistics during the fourth quarter worth about $41,000. Summit Securities Group LLC grew its holdings in shares of GXO Logistics by 870.9% during the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company’s stock valued at $44,000 after purchasing an additional 897 shares during the last quarter. R Squared Ltd bought a new position in GXO Logistics in the 4th quarter valued at approximately $54,000. Nomura Asset Management Co. Ltd. boosted its position in GXO Logistics by 33.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock valued at $60,000 after buying an additional 290 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of GXO Logistics by 213.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company’s stock worth $60,000 after buying an additional 933 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GXO has been the topic of several recent research reports. Oppenheimer cut their price objective on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th. Truist Financial initiated coverage on GXO Logistics in a research note on Thursday, March 13th. They set a “hold” rating and a $40.00 price target on the stock. Barclays reduced their price target on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of GXO Logistics in a report on Friday, March 7th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.00.

GXO Logistics Price Performance

GXO stock opened at $34.23 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The company’s fifty day simple moving average is $40.61 and its 200 day simple moving average is $48.40. GXO Logistics, Inc. has a 12-month low of $32.70 and a 12-month high of $63.33. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.34 and a beta of 1.56.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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, analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.