Texas Permanent School Fund Corp Cuts Position in GXO Logistics, Inc. (NYSE:GXO)

Texas Permanent School Fund Corp decreased its holdings in shares of GXO Logistics, Inc. (NYSE:GXOFree Report) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,967 shares of the company’s stock after selling 3,600 shares during the period. Texas Permanent School Fund Corp’s holdings in GXO Logistics were worth $5,922,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust raised its holdings in GXO Logistics by 217.2% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the company’s stock worth $27,000 after purchasing an additional 291 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in GXO Logistics in the first quarter valued at about $39,000. Nomura Asset Management Co. Ltd. increased its holdings in GXO Logistics by 58.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 870 shares of the company’s stock valued at $44,000 after buying an additional 320 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in GXO Logistics in the second quarter valued at about $48,000. Finally, Smithfield Trust Co purchased a new position in GXO Logistics in the second quarter valued at about $75,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GXO shares. Wells Fargo & Company dropped their target price on shares of GXO Logistics from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, November 9th. Morgan Stanley dropped their target price on shares of GXO Logistics from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, November 10th. TD Cowen dropped their target price on shares of GXO Logistics from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, January 12th. Oppenheimer dropped their price objective on shares of GXO Logistics from $76.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, November 13th. Finally, UBS Group dropped their price objective on shares of GXO Logistics from $74.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, GXO Logistics presently has an average rating of “Moderate Buy” and an average target price of $69.17.

Read Our Latest Stock Analysis on GXO Logistics

Insider Buying and Selling

In related news, Director Gena L. Ashe sold 10,526 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $58.15, for a total transaction of $612,086.90. Following the sale, the director now owns 15,062 shares in the company, valued at $875,855.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

GXO Logistics Stock Up 0.2 %

Shares of NYSE GXO opened at $56.69 on Monday. GXO Logistics, Inc. has a 1 year low of $43.57 and a 1 year high of $67.57. The firm’s 50 day moving average price is $58.28 and its 200 day moving average price is $58.26. The firm has a market cap of $6.74 billion, a P/E ratio of 33.54, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.01 and a current ratio of 1.01.

About GXO Logistics

(Free Report)

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, 2022, it operated in approximately 979 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.

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Institutional Ownership by Quarter for GXO Logistics (NYSE:GXO)

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