Ipswich Investment Management Co. Inc. Has $659,000 Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Ipswich Investment Management Co. Inc. decreased its stake in GXO Logistics, Inc. (NYSE:GXO) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,660 shares of the company’s stock after selling 505 shares during the period. 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 institutional investors and hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in shares of GXO Logistics in the 3rd quarter worth about $28,000. UMB Bank n.a. grew its position in GXO Logistics by 111.4% in the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after purchasing an additional 331 shares during the period. Signaturefd LLC increased its position in shares of GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after acquiring an additional 249 shares in the last quarter. Hara Capital LLC bought a new stake in GXO Logistics during the 3rd quarter worth approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in 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 valued at $54,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GXO. UBS Group lifted their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Cowen lifted their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays boosted their target price on shares of GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday. Susquehanna reduced their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Finally, Citigroup began coverage on GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.00.

GXO Logistics Stock Performance

GXO Logistics stock opened at $58.64 on Friday. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.33. 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 stock has a market cap of $7.01 billion, a P/E ratio of 65.16, a price-to-earnings-growth ratio of 1.82 and a beta of 1.55. The firm’s fifty day moving average price is $56.06 and its 200-day moving average price is $52.37.

GXO Logistics (NYSE:GXO) last released its quarterly 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. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities research analysts expect that GXO Logistics, Inc. will post 2.77 earnings per share for the current fiscal year.

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.