GXO Logistics, Inc. $GXO Shares Sold by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp has reduced its stake in GXO Logistics, Inc. by 24.2%, bringing its holdings to 138,588 shares valued at approximately $5.4 million.
• GXO reported a 15.9% year-over-year increase in revenue for the last quarter, totaling $3.30 billion, and exceeded EPS estimates by a cent.
• Equities analysts are optimistic about GXO, with multiple upgrades in price targets, leading to a consensus rating of "Moderate Buy" and a target price of <$59.50

OMERS ADMINISTRATION Corp reduced its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 24.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,588 shares of the company's stock after selling 44,360 shares during the quarter. OMERS ADMINISTRATION Corp owned about 0.12% of GXO Logistics worth $5,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GXO. Spruce House Investment Management LLC raised its position in shares of GXO Logistics by 133.3% in the 4th quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock valued at $91,350,000 after purchasing an additional 1,200,000 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in GXO Logistics during the 4th quarter worth approximately $46,523,000. Dimensional Fund Advisors LP raised its position in GXO Logistics by 29.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock worth $141,021,000 after buying an additional 810,298 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in GXO Logistics by 66.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company's stock worth $71,102,000 after buying an additional 724,535 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in GXO Logistics by 27.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company's stock worth $130,143,000 after buying an additional 708,661 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GXO. Barclays raised their price target on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Citigroup raised their price target on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. UBS Group raised their price target on shares of GXO Logistics from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Truist Financial raised shares of GXO Logistics from a "hold" rating to a "buy" rating and lifted their target price for the company from $48.00 to $62.00 in a report on Friday, July 11th. Finally, Wells Fargo & Company lifted their target price on shares of GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.50.

GXO Logistics Stock Performance

Shares of NYSE:GXO traded down $1.17 during trading on Tuesday, hitting $51.48. 474,378 shares of the stock traded hands, compared to its average volume of 1,415,163. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 97.00, a P/E/G ratio of 2.11 and a beta of 1.65. The company has a fifty day moving average price of $51.16 and a two-hundred day moving average price of $43.34. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The firm had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter last year, the company earned $0.55 EPS. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that GXO Logistics, Inc. will post 2.49 EPS 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.