Ipswich Investment Management Co. Inc. Sells 505 Shares of GXO Logistics, Inc. (NYSE:GXO)

Ipswich Investment Management Co. Inc. reduced its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,660 shares of the company’s stock after selling 505 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in GXO Logistics were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of GXO Logistics during the third quarter worth approximately $28,000. UMB Bank n.a. grew its holdings in GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after acquiring an additional 331 shares during the period. Signaturefd LLC raised its position in shares of GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after acquiring an additional 249 shares during the last quarter. Hara Capital LLC acquired a new position in shares of GXO Logistics in the 3rd quarter valued at $50,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of GXO Logistics by 37.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $54,000 after purchasing an additional 282 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Price Performance

NYSE:GXO opened at $58.64 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 65.16, a P/E/G ratio of 1.82 and a beta of 1.55. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $63.33. The firm’s 50-day simple moving average is $56.06 and its 200 day simple moving average is $52.37.

GXO Logistics (NYSE:GXO) last released its earnings results 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. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company’s revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. As a group, sell-side analysts predict that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GXO. Susquehanna lowered their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Barclays increased their price objective on GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday. TD Cowen boosted their price target 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. UBS Group increased their price objective on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

About GXO Logistics

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.