Harbor Capital Advisors Inc. Grows Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Harbor Capital Advisors Inc. increased its stake in GXO Logistics, Inc. (NYSE:GXO) by 2.5% in the fourth quarter, HoldingsChannel reports. The fund owned 48,937 shares of the company’s stock after purchasing an additional 1,172 shares during the period. Harbor Capital Advisors Inc.’s holdings in GXO Logistics were worth $2,129,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in GXO Logistics by 1.9% in the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock valued at $189,083,000 after purchasing an additional 66,232 shares during the last quarter. Fort Pitt Capital Group LLC raised its holdings in GXO Logistics by 2.1% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock valued at $128,499,000 after buying an additional 51,208 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in GXO Logistics by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after buying an additional 240,766 shares during the period. Geode Capital Management LLC grew its holdings in GXO Logistics by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock worth $103,279,000 after acquiring an additional 29,992 shares during the last quarter. Finally, Eminence Capital LP purchased a new position in shares of GXO Logistics in the second quarter valued at about $79,698,000. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GXO shares. Susquehanna cut their target price 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. Barclays reduced their target price on GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Oppenheimer raised their price target on GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Citigroup started coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, TD Cowen raised their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GXO Logistics has an average rating of “Moderate Buy” and an average target price of $66.33.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $42.94 on Friday. The company has a 50 day simple moving average of $51.78 and a two-hundred day simple moving average of $52.25. GXO Logistics, Inc. has a fifty-two week low of $41.38 and a fifty-two week high of $63.33. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 47.71, a P/E/G ratio of 1.47 and a beta of 1.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Analysts expect that GXO Logistics, Inc. will post 2.76 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.