GXO Logistics, Inc. (NYSE:GXO) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in GXO Logistics, Inc. (NYSE:GXO) by 81.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 218,175 shares of the company’s stock after selling 979,657 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GXO Logistics were worth $11,018,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GXO. Resources Management Corp CT ADV raised its stake in GXO Logistics by 11.8% during the second quarter. Resources Management Corp CT ADV now owns 22,534 shares of the company’s stock worth $1,138,000 after purchasing an additional 2,385 shares during the period. Davidson Kempner Capital Management LP purchased a new position in shares of GXO Logistics in the 2nd quarter worth $15,150,000. Bank of Montreal Can boosted its holdings in GXO Logistics by 597.7% in the second quarter. Bank of Montreal Can now owns 133,163 shares of the company’s stock valued at $6,738,000 after acquiring an additional 114,077 shares during the last quarter. Gabelli Funds LLC grew its position in GXO Logistics by 9.6% during the second quarter. Gabelli Funds LLC now owns 9,100 shares of the company’s stock valued at $460,000 after acquiring an additional 800 shares during the period. Finally, Pacer Advisors Inc. increased its stake in GXO Logistics by 1.0% during the second quarter. Pacer Advisors Inc. now owns 31,220 shares of the company’s stock worth $1,577,000 after acquiring an additional 317 shares during the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on GXO. Wells Fargo & Company began coverage on shares of GXO Logistics in a research note on Friday, June 7th. They set an “overweight” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. upped their price target 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. Finally, UBS Group cut their price objective on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.45.

GXO Logistics Stock Performance

Shares of GXO opened at $51.04 on Thursday. The firm has a market capitalization of $6.10 billion, a PE ratio of 36.72, a P/E/G ratio of 1.55 and a beta of 1.58. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $50.52 and a 200 day moving average price of $50.51. GXO Logistics, Inc. has a 52-week low of $46.07 and a 52-week high of $63.07.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. On average, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.79 earnings per share 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.