Federated Hermes Inc. Has $68.93 Million Holdings in GXO Logistics, Inc. (NYSE:GXO)

Federated Hermes Inc. increased its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,126,959 shares of the company’s stock after buying an additional 33,320 shares during the quarter. Federated Hermes Inc.’s holdings in GXO Logistics were worth $68,925,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GXO. Parkside Financial Bank & Trust raised its position in GXO Logistics by 217.2% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the company’s stock valued at $27,000 after purchasing an additional 291 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in GXO Logistics during the 3rd quarter valued at $31,000. Geneos Wealth Management Inc. purchased a new position in GXO Logistics during the first quarter valued at $39,000. Nomura Asset Management Co. Ltd. grew its position in shares of GXO Logistics by 58.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 870 shares of the company’s stock worth $44,000 after buying an additional 320 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new position in GXO Logistics during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

GXO has been the topic of several recent research reports. Stifel Nicolaus upped their price target on GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a report on Wednesday, March 27th. Loop Capital cut their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup cut their price target on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Finally, Susquehanna boosted their price target on GXO Logistics from $73.00 to $75.00 and gave the stock a “positive” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and an average target price of $69.54.

GXO Logistics Stock Performance

NYSE:GXO opened at $48.16 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50-day simple moving average of $51.67 and a two-hundred day simple moving average of $54.77. The firm has a market capitalization of $5.75 billion, a PE ratio of 25.21, a P/E/G ratio of 2.06 and a beta of 1.64. GXO Logistics, Inc. has a 52-week low of $48.11 and a 52-week high of $67.57.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. Analysts forecast that GXO Logistics, Inc. will post 2.77 EPS for the current year.

Insider Buying and Selling at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

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.