Ameriprise Financial Inc. Cuts Holdings in GXO Logistics, Inc. (NYSE:GXO)

Ameriprise Financial Inc. reduced its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 304,961 shares of the company's stock after selling 130,114 shares during the period. Ameriprise Financial Inc. owned about 0.26% of GXO Logistics worth $13,266,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GXO. Murphy & Mullick Capital Management Corp purchased a new stake in GXO Logistics during the 4th quarter valued at about $41,000. Summit Securities Group LLC boosted its stake in GXO Logistics by 870.9% during the fourth quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock worth $44,000 after buying an additional 897 shares during the last quarter. Quarry LP boosted its stake in GXO Logistics by 1,334.9% during the fourth quarter. Quarry LP now owns 1,234 shares of the company's stock worth $54,000 after buying an additional 1,148 shares during the last quarter. R Squared Ltd acquired a new position in GXO Logistics during the fourth quarter worth $54,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in GXO Logistics by 213.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company's stock worth $60,000 after buying an additional 933 shares during the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Trading Down 1.1%

Shares of GXO stock traded down $0.45 on Tuesday, hitting $41.33. The stock had a trading volume of 866,980 shares, compared to its average volume of 1,275,780. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The firm has a market capitalization of $4.73 billion, a P/E ratio of 36.90, a P/E/G ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33. The company's 50 day moving average price is $37.55 and its 200-day moving average price is $43.80.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.94 billion. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. The company's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. Analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GXO shares. Truist Financial lowered their price objective on GXO Logistics from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus reissued a "buy" rating and set a $66.00 price objective (down previously from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. UBS Group lowered their price objective 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. Citigroup lowered their price objective on GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on GXO Logistics in a research report on Friday, March 7th. They issued a "hold" rating and a $45.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.57.

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.