GXO Logistics, Inc. (NYSE:GXO) Stake Boosted by Firetrail Investments PTY Ltd.

Key Points

• Firetrail Investments PTY Ltd. increased its stake in GXO Logistics by 3.8%, acquiring an additional 8,386 shares, totaling 228,080 shares valued at approximately $9 million.
• Several hedge funds, including Vanguard Group and Kovitz Investment Group, have also made significant increases in their positions in GXO Logistics during the recent quarter.
• GXO Logistics reported a 21.2% year-over-year revenue growth, with quarterly earnings of $0.29 per share, surpassing analysts' expectations of $0.26 per share.

Firetrail Investments PTY Ltd. boosted its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,080 shares of the company's stock after buying an additional 8,386 shares during the quarter. GXO Logistics makes up about 2.6% of Firetrail Investments PTY Ltd.'s investment portfolio, making the stock its 21st biggest holding. Firetrail Investments PTY Ltd. owned approximately 0.19% of GXO Logistics worth $9,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in GXO Logistics by 2,460.7% in the first quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after acquiring an additional 689 shares during the period. GAMMA Investing LLC boosted its stake in GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after acquiring an additional 302 shares during the period. Golden State Wealth Management LLC acquired a new position in GXO Logistics in the first quarter valued at approximately $34,000. Murphy & Mullick Capital Management Corp acquired a new position in GXO Logistics in the fourth quarter valued at approximately $41,000. Finally, Summit Securities Group LLC boosted 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 valued at $44,000 after acquiring an additional 897 shares during the period. 90.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GXO has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on GXO Logistics from $48.00 to $57.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. lifted their target price on GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Barclays lifted their target price on GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Susquehanna reiterated a "positive" rating and set a $58.00 price objective (up from $57.00) on shares of GXO Logistics in a research report on Tuesday, June 24th. Finally, Citigroup boosted their price objective on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, GXO Logistics presently has an average rating of "Moderate Buy" and an average price target of $57.43.

GXO Logistics Price Performance

Shares of NYSE GXO traded down $0.98 during trading on Tuesday, hitting $51.29. The company had a trading volume of 489,464 shares, compared to its average volume of 1,457,504. The company has a market cap of $5.87 billion, a P/E ratio of 82.72, a PEG ratio of 1.92 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 business's 50-day moving average is $46.49 and its 200 day moving average is $41.97. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.78.

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