Envestnet Asset Management Inc. Sells 78,393 Shares of GXO Logistics, Inc. (NYSE:GXO)

Envestnet Asset Management Inc. reduced its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 61.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,702 shares of the company's stock after selling 78,393 shares during the period. Envestnet Asset Management Inc.'s holdings in GXO Logistics were worth $2,119,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Murphy & Mullick Capital Management Corp bought a new position in shares of GXO Logistics during the fourth quarter worth $41,000. Summit Securities Group LLC raised its stake in GXO Logistics by 870.9% during the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock worth $44,000 after buying an additional 897 shares during the period. R Squared Ltd bought a new position in GXO Logistics during the fourth quarter worth about $54,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in GXO Logistics by 213.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company's stock valued at $60,000 after acquiring an additional 933 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of GXO Logistics by 33.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock worth $60,000 after acquiring an additional 348 shares in the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on GXO. Citigroup cut their price objective on GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their price target on shares of GXO Logistics from $63.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a "hold" rating and a $45.00 price objective for the company. Barclays cut their price objective on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group lowered their target price on GXO Logistics from $72.00 to $50.00 and set a "buy" rating for the company in a report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.57.

GXO Logistics Stock Up 3.0 %

NYSE GXO traded up $1.07 during trading hours on Friday, hitting $37.24. 137,128 shares of the company traded hands, compared to its average volume of 1,241,616. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The business's 50-day moving average is $37.24 and its 200-day moving average is $45.84. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Sell-side analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.