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 stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 480,301 shares of the company's stock after selling 9,135 shares during the period. Douglas Lane & Associates LLC owned about 0.42% of GXO Logistics worth $23,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. increased its stake in shares of GXO Logistics by 1,521.9% during the 1st quarter. Alliancebernstein L.P. now owns 2,511,289 shares of the company's stock worth $98,141,000 after purchasing an additional 2,356,452 shares during the last quarter. Engaged Capital LLC purchased a new position in GXO Logistics in the 1st quarter worth $35,641,000. Orbis Allan Gray Ltd increased its position in shares of 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 period. Dimensional Fund Advisors LP increased its position in shares of 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 period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of GXO Logistics by 66.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company's stock valued at $71,102,000 after purchasing an additional 724,535 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of GXO Logistics from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Oppenheimer increased their price objective on shares of GXO Logistics from $55.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of GXO Logistics from $56.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Citigroup increased their price objective on shares of GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Truist Financial upgraded shares of GXO Logistics from a "hold" rating to a "buy" rating and raised their target price for the stock from $48.00 to $62.00 in a report on Friday, July 11th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.50.

GXO Logistics Stock Down 2.8%

Shares of GXO traded down $1.42 during midday trading on Friday, reaching $49.70. 382,145 shares of the stock were exchanged, compared to its average volume of 1,375,952. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 93.84, a P/E/G ratio of 2.03 and a beta of 1.65. The firm has a 50 day simple moving average of $51.55 and a 200-day simple moving average of $44.30. 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 released its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company's revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. Research analysts forecast 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.