OLD National Bancorp IN Buys New Shares in GXO Logistics, Inc. (NYSE:GXO)

OLD National Bancorp IN bought a new stake in shares of GXO Logistics, Inc. (NYSE:GXO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,407 shares of the company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GXO. Ballentine Partners LLC acquired a new stake in GXO Logistics during the third quarter valued at approximately $332,000. Northcape Capital Pty Ltd lifted its position in shares of GXO Logistics by 5.0% in the 3rd quarter. Northcape Capital Pty Ltd now owns 38,119 shares of the company’s stock valued at $2,236,000 after acquiring an additional 1,801 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of GXO Logistics by 1.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 14,856 shares of the company’s stock valued at $871,000 after acquiring an additional 212 shares in the last quarter. Silvant Capital Management LLC purchased a new stake in shares of GXO Logistics in the 3rd quarter valued at approximately $2,131,000. Finally, Independent Advisor Alliance lifted its position in shares of GXO Logistics by 9.1% in the 3rd quarter. Independent Advisor Alliance now owns 22,505 shares of the company’s stock valued at $1,320,000 after acquiring an additional 1,880 shares in the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GXO Logistics

In related news, Director Gena L. Ashe sold 4,737 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, the director now directly owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

GXO Logistics Stock Performance

Shares of GXO opened at $50.52 on Friday. The company’s fifty day moving average is $50.97 and its 200-day moving average is $54.54. GXO Logistics, Inc. has a 12 month low of $48.11 and a 12 month high of $67.57. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 2.06 and a beta of 1.64. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business posted $0.83 EPS. GXO Logistics’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts expect that GXO Logistics, Inc. will post 2.78 EPS for the current fiscal year.

Analysts Set New Price Targets

GXO has been the subject of several research analyst reports. BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Wednesday, March 27th. TD Cowen upped their price target on shares of GXO Logistics from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. Loop Capital reduced their price target on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. JPMorgan Chase & Co. dropped their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus upped their price objective on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.69.

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.