Gilman Hill Asset Management LLC Purchases 11,783 Shares of GXO Logistics, Inc. (NYSE:GXO)

Gilman Hill Asset Management LLC lifted its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 13.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,168 shares of the company's stock after buying an additional 11,783 shares during the quarter. Gilman Hill Asset Management LLC owned approximately 0.08% of GXO Logistics worth $3,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in GXO. Douglas Lane & Associates LLC raised its stake in shares of GXO Logistics by 1.8% during the first quarter. Douglas Lane & Associates LLC now owns 489,436 shares of the company's stock valued at $19,127,000 after purchasing an additional 8,883 shares in the last quarter. Sterneck Capital Management LLC increased its stake in GXO Logistics by 143.3% in the 1st quarter. Sterneck Capital Management LLC now owns 16,315 shares of the company's stock worth $638,000 after purchasing an additional 9,608 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in GXO Logistics during the 1st quarter valued at about $426,000. GAMMA Investing LLC grew its stake in GXO Logistics by 6,034.9% during the 1st quarter. GAMMA Investing LLC now owns 32,515 shares of the company's stock valued at $12,710,000 after acquiring an additional 31,985 shares in the last quarter. Finally, Boston Common Asset Management LLC purchased a new position in GXO Logistics during the 1st quarter valued at about $5,862,000. Institutional investors and hedge funds own 90.67% of the company's stock.

Wall Street Analysts Forecast Growth

GXO has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. UBS Group lowered their target price on GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Oppenheimer lowered their target price on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley lowered their price target on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, Truist Financial lowered their price target on GXO Logistics from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, GXO Logistics presently has an average rating of "Moderate Buy" and an average target price of $54.57.

GXO Logistics Stock Performance

GXO stock traded up $0.30 during midday trading on Friday, hitting $42.23. The stock had a trading volume of 691,593 shares, compared to its average volume of 1,281,008. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 37.70, a P/E/G ratio of 1.34 and a beta of 1.59. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The stock has a 50-day simple moving average of $37.75 and a 200 day simple moving average of $42.01. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83.

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 (EPS) for the quarter, topping 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 firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company posted $0.45 earnings per share. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, equities research analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.