Sumitomo Life Insurance Co. Grows Stake in GXO Logistics, Inc. (NYSE:GXO)

Sumitomo Life Insurance Co. increased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,735 shares of the company’s stock after purchasing an additional 504 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in GXO Logistics were worth $976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its position in shares of GXO Logistics by 6.1% during the 1st quarter. Retirement Systems of Alabama now owns 318,034 shares of the company’s stock worth $17,098,000 after buying an additional 18,184 shares during the last quarter. George Kaiser Family Foundation acquired a new position in GXO Logistics in the first quarter valued at $1,014,000. Fort Pitt Capital Group LLC boosted its stake in GXO Logistics by 60.4% in the first quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock valued at $99,647,000 after acquiring an additional 698,180 shares in the last quarter. Swedbank AB grew its holdings in shares of GXO Logistics by 15.9% during the second quarter. Swedbank AB now owns 1,825,000 shares of the company’s stock worth $92,162,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of GXO Logistics by 269.1% during the second quarter. Harbor Capital Advisors Inc. now owns 22,928 shares of the company’s stock worth $1,158,000 after purchasing an additional 16,716 shares in the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Stock Up 2.6 %

Shares of NYSE:GXO opened at $62.95 on Thursday. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 45.29, a PEG ratio of 1.52 and a beta of 1.59. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.15. The firm’s 50-day simple moving average is $50.80 and its 200-day simple moving average is $50.87. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. GXO Logistics’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. As a group, equities research analysts predict that GXO Logistics, Inc. will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Susquehanna dropped their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Citigroup began coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target for the company. Finally, UBS Group dropped their price objective on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GXO Logistics has a consensus rating of “Moderate Buy” and a consensus price target of $66.91.

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.