Douglas Lane & Associates LLC Has $23.39 Million Stock Holdings in GXO Logistics, Inc. $GXO

Key Points

• Douglas Lane & Associates LLC reduced its holdings in GXO Logistics by 1.9%, owning a total of 480,301 shares valued at approximately $23.39 million.
• Several institutional investors, including Orbis Allan Gray and AllianceBernstein, significantly increased their stakes in GXO Logistics, with institutional ownership currently at 90.67%.
• Analysts have a consensus target price of $59.50 for GXO Logistics, with multiple firms upgrading their price targets, indicating strong market confidence in the company's performance.

Douglas Lane & Associates LLC cut its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 480,301 shares of the company's stock after selling 9,135 shares during the quarter. Douglas Lane & Associates LLC owned about 0.42% of GXO Logistics worth $23,391,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd lifted its stake in GXO Logistics by 6.5% in the first quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company's stock valued at $526,532,000 after acquiring an additional 818,353 shares during the last quarter. Vanguard Group Inc. lifted its stake in GXO Logistics by 0.3% in the first 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in GXO Logistics by 29.0% in the first 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 during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in GXO Logistics by 27.0% in the first 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 during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in GXO Logistics by 1,521.9% in the first 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 during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GXO. Citigroup lifted their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. UBS Group lifted their price target on shares of GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company lifted their price target on shares of GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Susquehanna lifted their price target 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. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, GXO Logistics currently has an average rating of "Moderate Buy" and a consensus target price of $59.50.

GXO Logistics Trading Down 0.9%

Shares of GXO stock opened at $51.08 on Friday. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33. The firm's fifty day simple moving average is $51.53 and its 200 day simple moving average is $44.01. The firm has a market capitalization of $5.85 billion, a P/E ratio of 96.37, a price-to-earnings-growth ratio of 2.07 and a beta of 1.65. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87.

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

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