10,889 Shares in GXO Logistics, Inc. (NYSE:GXO) Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC bought a new position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,889 shares of the company's stock, valued at approximately $426,000.

A number of other hedge funds also recently bought and sold shares of GXO. Vanguard Group Inc. increased its stake in shares of GXO Logistics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company's stock worth $492,977,000 after purchasing an additional 212,254 shares during the period. Clearbridge Investments LLC grew its holdings in GXO Logistics by 3.8% in the 4th quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company's stock valued at $183,924,000 after buying an additional 153,522 shares during the last quarter. Dimensional Fund Advisors LP increased its position in GXO Logistics by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,798,170 shares of the company's stock worth $121,718,000 after buying an additional 50,682 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of GXO Logistics by 28,112.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company's stock worth $114,036,000 after buying an additional 2,612,223 shares during the last quarter. Finally, Spruce House Investment Management LLC lifted its holdings in shares of GXO Logistics by 133.3% during the fourth quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock worth $91,350,000 after buying an additional 1,200,000 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Price Performance

NYSE:GXO traded up $0.34 during mid-day trading on Friday, hitting $42.27. The company's stock had a trading volume of 262,946 shares, compared to its average volume of 1,274,550. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 1.34 and a beta of 1.59. The stock has a fifty day moving average of $37.69 and a 200-day moving average of $42.36.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company posted $0.45 EPS. The company's revenue was up 21.2% compared to the same quarter last year. As a group, equities 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 topic of several research analyst reports. Citigroup lowered their price objective on shares of GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley decreased their price target on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Oppenheimer dropped their price objective on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company cut their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research note on Friday, March 7th. They issued a "hold" rating and a $45.00 target price for the company. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, GXO Logistics currently has a consensus rating of "Moderate Buy" and an average target price of $54.57.

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.