National Bank of Canada FI Cuts Holdings in GXO Logistics, Inc. $GXO

National Bank of Canada FI decreased its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,998 shares of the company's stock after selling 7,885 shares during the period. National Bank of Canada FI owned approximately 0.15% of GXO Logistics worth $6,919,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of GXO Logistics by 27.4% in the 4th quarter. Bank of Montreal Can now owns 24,112 shares of the company's stock valued at $1,049,000 after acquiring an additional 5,184 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of GXO Logistics in the 4th quarter valued at about $20,905,000. Treasurer of the State of North Carolina lifted its holdings in shares of GXO Logistics by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock valued at $2,245,000 after acquiring an additional 330 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of GXO Logistics by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,957 shares of the company's stock valued at $303,000 after acquiring an additional 2,482 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of GXO Logistics by 70.1% in the 4th quarter. Barclays PLC now owns 106,404 shares of the company's stock valued at $4,629,000 after acquiring an additional 43,859 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GXO shares. Citigroup increased 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 raised shares of GXO Logistics from a "hold" rating to a "buy" rating and increased their price target for the company from $48.00 to $62.00 in a report on Friday, July 11th. JPMorgan Chase & Co. increased their price target on shares of GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. UBS Group raised their price objective 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, Barclays raised their price objective on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.50.

GXO Logistics Trading Up 0.1%

Shares of GXO Logistics stock traded up $0.04 on Monday, hitting $52.59. 263,778 shares of the company traded hands, compared to its average volume of 1,448,235. The stock's 50 day moving average price is $49.21 and its 200-day moving average price is $42.55. 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 52 week low of $30.46 and a 52 week high of $63.33. The company has a market cap of $6.02 billion, a PE ratio of 99.23, a PEG ratio of 1.91 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share 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 firm had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that GXO Logistics, Inc. will post 2.49 EPS 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.