LPL Financial LLC Boosts Stock Holdings in GXO Logistics, Inc. $GXO

Key Points

• LPL Financial LLC increased its stake in GXO Logistics by 23.7%, owning a total of 72,279 shares worth approximately $2.63 million at the end of the reporting period.
• GXO Logistics reported a net revenue of $3.30 billion for the quarter, exceeding expectations, and achieved an EPS of $0.57, beating estimates by $0.01.
• Analysts have updated their price targets for GXO Logistics, with Citigroup raising its target from $56.00 to $59.00 and JPMorgan lifting theirs from $56.00 to $65.00, indicating a positive outlook for the stock.

LPL Financial LLC raised its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 23.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 72,279 shares of the company's stock after purchasing an additional 13,825 shares during the period. LPL Financial LLC owned 0.06% of GXO Logistics worth $2,629,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC boosted its holdings in shares of GXO Logistics by 13.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company's stock valued at $674,000 after buying an additional 2,076 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of GXO Logistics by 2.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company's stock valued at $1,512,000 after buying an additional 886 shares in the last quarter. KBC Group NV boosted its holdings in shares of GXO Logistics by 20.0% in the 1st quarter. KBC Group NV now owns 5,821 shares of the company's stock valued at $227,000 after buying an additional 969 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of GXO Logistics by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 274,832 shares of the company's stock valued at $10,740,000 after buying an additional 831 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after buying an additional 302 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Performance

Shares of NYSE GXO opened at $52.55 on Monday. 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, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33. The company has a 50 day simple moving average of $49.21 and a two-hundred day simple moving average of $42.55. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 99.15, a PEG ratio of 1.91 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the business posted $0.55 EPS. The business's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

GXO has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Truist Financial upgraded shares of GXO Logistics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $48.00 to $62.00 in a research note on Friday, July 11th. Wells Fargo & Company lifted their target price on shares of GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. UBS Group lifted 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. Finally, JPMorgan Chase & Co. lifted their target price 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. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $59.50.

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.

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