Principal Financial Group Inc. Buys 52,979 Shares of GXO Logistics, Inc. $GXO

Principal Financial Group Inc. increased its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 15.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 404,878 shares of the company’s stock after purchasing an additional 52,979 shares during the quarter. Principal Financial Group Inc.’s holdings in GXO Logistics were worth $21,414,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GXO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in GXO Logistics by 29.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,867 shares of the company’s stock valued at $1,568,000 after acquiring an additional 9,134 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of GXO Logistics by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 377,211 shares of the company’s stock worth $14,741,000 after purchasing an additional 8,670 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of GXO Logistics by 4,775.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,999 shares of the company’s stock worth $78,000 after purchasing an additional 1,958 shares during the period. KLP Kapitalforvaltning AS boosted its stake in shares of GXO Logistics by 9.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 24,900 shares of the company’s stock worth $1,213,000 after purchasing an additional 2,200 shares during the period. Finally, US Bancorp DE grew its holdings in GXO Logistics by 3.4% during the 2nd quarter. US Bancorp DE now owns 14,319 shares of the company’s stock valued at $697,000 after purchasing an additional 471 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors.

Insider Activity

In other GXO Logistics news, Director Todd C. Cooper acquired 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were bought at an average cost of $50.59 per share, with a total value of $303,540.00. Following the completion of the acquisition, the director directly owned 10,040 shares in the company, valued at $507,923.60. This represents a 148.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GXO shares. Deutsche Bank Aktiengesellschaft raised shares of GXO Logistics from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. increased their target price on GXO Logistics from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their target price on GXO Logistics from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Susquehanna boosted their target price on shares of GXO Logistics from $64.00 to $80.00 and gave the company a “positive” rating in a research note on Thursday, January 8th. Finally, Citigroup raised their price target on shares of GXO Logistics from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.67.

GXO Logistics Trading Up 4.6%

NYSE GXO opened at $58.92 on Friday. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $59.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 77.53, a price-to-earnings-growth ratio of 1.93 and a beta of 1.65. The company’s 50-day simple moving average is $54.92 and its two-hundred day simple moving average is $52.99.

About GXO Logistics

GXO Logistics (NYSE: GXO) is a global contract logistics provider specializing in warehousing, distribution, and value-added supply chain services. Established in August 2021 as a spin-off from XPO Logistics, the company has built its reputation on integrating advanced technology and automation into traditional logistics operations. GXO’s core offerings include e-commerce fulfillment, inventory management, returns processing, and reverse logistics, supported by a network of fulfillment centers and distribution hubs designed to optimize order accuracy and delivery speed.

The company serves customers across a diverse array of industries, including retail, technology, consumer goods, automotive, industrial, and healthcare.