Bridges Investment Management Inc. Increases Stake in GXO Logistics, Inc. (NYSE:GXO)

Bridges Investment Management Inc. raised its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 110.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,472 shares of the company's stock after purchasing an additional 8,137 shares during the period. Bridges Investment Management Inc.'s holdings in GXO Logistics were worth $605,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after purchasing an additional 302 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in GXO Logistics in the first quarter worth $34,000. Murphy & Mullick Capital Management Corp bought a new stake in GXO Logistics in the fourth quarter worth $41,000. Summit Securities Group LLC lifted its stake in GXO Logistics by 870.9% in the fourth quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock worth $44,000 after purchasing an additional 897 shares during the last quarter. Finally, Quarry LP lifted its stake in GXO Logistics by 1,334.9% in the fourth quarter. Quarry LP now owns 1,234 shares of the company's stock worth $54,000 after purchasing an additional 1,148 shares during the last quarter. 90.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of GXO Logistics from $48.00 to $57.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. boosted their price objective on shares of GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Truist Financial upgraded shares of GXO Logistics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $48.00 to $62.00 in a research report on Friday. Citigroup boosted their price objective on shares of GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Susquehanna reissued a "positive" rating and issued a $58.00 price target (up from $57.00) on shares of GXO Logistics in a research note on Tuesday, June 24th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, GXO Logistics has an average rating of "Moderate Buy" and an average target price of $57.43.

GXO Logistics Stock Up 0.1%

Shares of NYSE GXO traded up $0.06 during midday trading on Friday, hitting $51.72. The stock had a trading volume of 862,410 shares, compared to its average volume of 1,342,788. The business's 50 day moving average is $43.96 and its 200-day moving average is $41.39. The company has a market cap of $5.92 billion, a P/E ratio of 83.42, a PEG ratio of 1.89 and a beta of 1.64. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.88.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.94 billion. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, analysts predict that GXO Logistics, Inc. will post 2.49 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.