Marks Group Wealth Management Inc Makes New $244,000 Investment in GXO Logistics, Inc. $GXO

Key Points

• Marks Group Wealth Management Inc has invested approximately $244,000 in GXO Logistics, acquiring 5,000 shares during the 2nd quarter.
• GXO Logistics reported a 15.9% increase in revenue year-over-year, with earnings of $0.57 per share for the last quarter, surpassing analysts' estimates.
• Wall Street analysts have a consensus rating of "Moderate Buy" for GXO Logistics, with target prices ranging from $60.00 to $68.00.

Marks Group Wealth Management Inc purchased a new position in GXO Logistics, Inc. (NYSE:GXO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the company's stock, valued at approximately $244,000.

Several other institutional investors also recently modified their holdings of GXO. Alliancebernstein L.P. raised its position in GXO Logistics by 1,521.9% in the 1st quarter. Alliancebernstein L.P. now owns 2,511,289 shares of the company's stock worth $98,141,000 after buying an additional 2,356,452 shares during the last quarter. Engaged Capital LLC bought a new stake in shares of GXO Logistics in the first quarter worth approximately $35,641,000. Orbis Allan Gray Ltd raised its holdings in shares of GXO Logistics by 6.5% during the first quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company's stock valued at $526,532,000 after purchasing an additional 818,353 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in GXO Logistics by 29.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock valued at $141,021,000 after purchasing an additional 810,298 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in GXO Logistics by 66.2% during the first 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 during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Up 3.1%

GXO stock opened at $55.41 on Tuesday. The business's 50-day moving average price is $51.76 and its 200-day moving average price is $45.49. The stock has a market cap of $6.34 billion, a P/E ratio of 104.55, a PEG ratio of 2.15 and a beta of 1.64. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve 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 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The firm's revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. On average, equities research analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GXO shares. Wells Fargo & Company lifted their target price on shares of GXO Logistics from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday. Stifel Nicolaus lifted their price objective on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Truist Financial raised GXO Logistics from a "hold" rating to a "buy" rating and increased their target price for the company from $48.00 to $62.00 in a report on Friday, July 11th. Susquehanna boosted their price target on GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group upgraded shares of GXO Logistics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $52.00 to $68.00 in a research note on Wednesday, September 24th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, GXO Logistics presently has a consensus rating of "Moderate Buy" and an average price target of $61.29.

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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