Nuveen Asset Management LLC Raises Position in GXO Logistics, Inc. (NYSE:GXO)

Nuveen Asset Management LLC grew its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 394,250 shares of the company's stock after acquiring an additional 48,887 shares during the period. Nuveen Asset Management LLC owned about 0.33% of GXO Logistics worth $17,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of GXO Logistics during the 4th quarter valued at approximately $41,000. Summit Securities Group LLC raised its position in shares of GXO Logistics by 870.9% during the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock worth $44,000 after purchasing an additional 897 shares during the last quarter. Quarry LP raised its position in shares of GXO Logistics by 1,334.9% during the 4th quarter. Quarry LP now owns 1,234 shares of the company's stock worth $54,000 after purchasing an additional 1,148 shares during the last quarter. R Squared Ltd acquired a new position in shares of GXO Logistics during the 4th quarter worth approximately $54,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of GXO Logistics by 33.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock worth $60,000 after purchasing an additional 348 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Trading Up 4.9%

GXO stock traded up $1.93 during trading on Tuesday, reaching $41.56. 964,357 shares of the stock traded hands, compared to its average volume of 1,274,899. The business's 50 day moving average price is $37.48 and its 200-day moving average price is $43.14. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. 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 $4.76 billion, a PE ratio of 37.11, a P/E/G ratio of 1.34 and a beta of 1.56.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Loop Capital downgraded GXO Logistics from a "buy" rating to a "hold" rating and cut their price objective for the stock from $71.00 to $49.00 in a research report on Monday, February 3rd. Stifel Nicolaus restated a "buy" rating and set a $66.00 price objective (down previously from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Wells Fargo & Company lowered their price objective on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on GXO Logistics in a research report on Friday, March 7th. They issued a "hold" rating and a $45.00 price objective for the company. Finally, Oppenheimer lowered their price objective on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently 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.