Advisors Capital Management LLC Acquires 19,157 Shares of GXO Logistics, Inc. $GXO

Key Points

• Advisors Capital Management LLC increased its position in GXO Logistics by 17.2% in Q1, holding 130,248 shares worth $5,090,000.
• GXO Logistics reported Q2 earnings of $0.57 per share, exceeding estimates, with a revenue of $3.30 billion, up 15.9% year-over-year.
• Multiple analysts have raised their price targets for GXO Logistics stock, with an average rating of "Moderate Buy" and a consensus target price of $59.50.

Advisors Capital Management LLC lifted its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,248 shares of the company's stock after buying an additional 19,157 shares during the period. Advisors Capital Management LLC owned about 0.11% of GXO Logistics worth $5,090,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Orbis Allan Gray Ltd increased its holdings in GXO Logistics by 6.5% during the 1st quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company's stock worth $526,532,000 after purchasing an additional 818,353 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of GXO Logistics by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 11,370,657 shares of the company's stock valued at $444,365,000 after acquiring an additional 37,852 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of GXO Logistics by 29.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock valued at $141,021,000 after acquiring an additional 810,298 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of GXO Logistics by 27.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company's stock valued at $130,143,000 after acquiring an additional 708,661 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of GXO Logistics by 1,521.9% in the 1st quarter. Alliancebernstein L.P. now owns 2,511,289 shares of the company's stock valued at $98,141,000 after acquiring an additional 2,356,452 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Up 0.6%

Shares of NYSE GXO traded up $0.29 during trading on Wednesday, hitting $51.13. The stock had a trading volume of 87,954 shares, compared to its average volume of 1,381,768. The company has a market capitalization of $5.85 billion, a PE ratio of 96.67, a PEG ratio of 2.04 and a beta of 1.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a fifty day moving average of $51.56 and a two-hundred day moving average of $44.17. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The company had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, equities research analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GXO has been the subject of several analyst reports. Barclays raised their target price on shares of GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Wells Fargo & Company boosted their price objective on GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Susquehanna boosted their target price on shares of GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Citigroup boosted their price target on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, GXO Logistics currently has a consensus rating of "Moderate Buy" and an average price target of $59.50.

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.