Healthcare of Ontario Pension Plan Trust Fund Trims Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Posted by Defense World Staff on Mar 4th, 2023

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in GXO Logistics, Inc. (NYSE:GXO – Get Rating) by 43.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,386 shares of the company’s stock after selling 2,598 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in GXO Logistics were worth $119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GXO. Citigroup Inc. raised its holdings in shares of GXO Logistics by 25.6% in the first quarter. Citigroup Inc. now owns 16,948 shares of the company’s stock valued at $1,208,000 after buying an additional 3,457 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of GXO Logistics by 175.7% in the first quarter. Bank of Montreal Can now owns 24,502 shares of the company’s stock valued at $1,843,000 after buying an additional 15,615 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of GXO Logistics by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,133 shares of the company’s stock valued at $2,578,000 after buying an additional 3,445 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of GXO Logistics by 44.8% in the first quarter. Raymond James Trust N.A. now owns 5,979 shares of the company’s stock valued at $427,000 after buying an additional 1,849 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of GXO Logistics by 2.5% in the first quarter. Lord Abbett & CO. LLC now owns 169,181 shares of the company’s stock valued at $12,069,000 after buying an additional 4,084 shares during the last quarter. 99.47% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Up 2.0 %

GXO stock opened at $52.00 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $6.18 billion, a PE ratio of 30.95, a P/E/G ratio of 1.75 and a beta of 1.70. The company’s 50 day simple moving average is $49.98 and its 200-day simple moving average is $44.20. GXO Logistics, Inc. has a 12 month low of $32.10 and a 12 month high of $79.54.

GXO Logistics (NYSE:GXO – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. GXO Logistics had a net margin of 2.19% and a return on equity of 13.12%. Equities analysts expect that GXO Logistics, Inc. will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GXO shares. Oppenheimer boosted their price target on shares of GXO Logistics from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. The Goldman Sachs Group boosted their price target on shares of GXO Logistics from $52.00 to $55.00 in a research note on Wednesday, February 15th. Susquehanna boosted their price target on shares of GXO Logistics from $53.00 to $62.00 and gave the stock a “positive” rating in a research note on Thursday, January 19th. Jefferies Financial Group upped their target price on shares of GXO Logistics from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 13th. Finally, Credit Suisse Group restated an “outperform” rating and set a $63.00 target price on shares of GXO Logistics in a research report on Thursday, February 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average target price of $60.44.

Insider Activity at GXO Logistics

In related news, Director Gena L. Ashe sold 2,120 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $52.73, for a total transaction of $111,787.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 11.10% of the company’s stock.

About GXO Logistics

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GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.