Pinebridge Investments L.P. Purchases 13,603 Shares of GXO Logistics, Inc. (NYSE:GXO)

Pinebridge Investments L.P. increased its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 42.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,447 shares of the company's stock after purchasing an additional 13,603 shares during the quarter. Pinebridge Investments L.P.'s holdings in GXO Logistics were worth $1,977,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in GXO Logistics by 0.8% in the fourth quarter. Arizona State Retirement System now owns 34,671 shares of the company's stock worth $1,508,000 after purchasing an additional 281 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of GXO Logistics by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock worth $2,245,000 after purchasing an additional 330 shares during the last quarter. Pacer Advisors Inc. lifted its stake in GXO Logistics by 1.1% during the fourth quarter. Pacer Advisors Inc. now owns 30,815 shares of the company's stock valued at $1,340,000 after purchasing an additional 338 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of GXO Logistics by 33.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock valued at $60,000 after buying an additional 348 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in shares of GXO Logistics by 8.9% in the 4th quarter. Belpointe Asset Management LLC now owns 5,728 shares of the company's stock worth $249,000 after acquiring an additional 470 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GXO. Deutsche Bank Aktiengesellschaft started coverage on GXO Logistics in a report on Friday, March 7th. They set a "hold" rating and a $45.00 price objective on the stock. Loop Capital cut shares of GXO Logistics from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $71.00 to $49.00 in a research report on Monday, February 3rd. The Goldman Sachs Group reduced their target price on GXO Logistics from $63.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Morgan Stanley dropped their price target on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Finally, UBS Group decreased their price target on shares of GXO Logistics from $72.00 to $50.00 and set a "buy" rating for the company in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, GXO Logistics presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.57.

GXO Logistics Stock Performance

Shares of NYSE:GXO traded up $1.35 during midday trading on Friday, hitting $37.52. The company's stock had a trading volume of 626,305 shares, compared to its average volume of 1,244,236. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 1.34 and a beta of 1.56. The stock's 50 day simple moving average is $37.24 and its 200 day simple moving average is $45.84.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. As a group, research analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share 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.