Handelsbanken Fonder AB Has $30.78 Million Position in GXO Logistics, Inc. (NYSE:GXO)

Handelsbanken Fonder AB decreased its holdings in GXO Logistics, Inc. (NYSE:GXO) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 591,100 shares of the company’s stock after selling 35,700 shares during the quarter. Handelsbanken Fonder AB owned 0.49% of GXO Logistics worth $30,779,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. raised its position in GXO Logistics by 170.7% in the second quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock worth $60,000 after purchasing an additional 700 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of GXO Logistics by 920.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock worth $64,000 after buying an additional 1,151 shares in the last quarter. Motco lifted its position in shares of GXO Logistics by 2,836.4% during the 1st quarter. Motco now owns 1,292 shares of the company’s stock worth $69,000 after buying an additional 1,248 shares during the period. Smithfield Trust Co boosted its stake in GXO Logistics by 16.5% in the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock valued at $73,000 after buying an additional 195 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in GXO Logistics in the 1st quarter valued at $80,000. 90.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GXO has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. UBS Group dropped their target price on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Susquehanna reduced their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and an average price target of $67.27.

GXO Logistics Price Performance

GXO traded down $0.03 during midday trading on Friday, hitting $49.30. The company had a trading volume of 537,039 shares, compared to its average volume of 829,074. GXO Logistics, Inc. has a twelve month low of $46.07 and a twelve month high of $63.07. The company has a market capitalization of $5.89 billion, a PE ratio of 35.47, a P/E/G ratio of 1.55 and a beta of 1.59. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day simple moving average is $50.01 and its 200-day simple moving average is $50.57.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results 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 company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. Equities research analysts predict that GXO Logistics, Inc. will post 2.79 EPS for the current fiscal 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.