Nuveen Asset Management LLC Increases Holdings in GXO Logistics, Inc. (NYSE:GXO)

Nuveen Asset Management LLC increased its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 394,250 shares of the company's stock after purchasing an additional 48,887 shares during the quarter. Nuveen Asset Management LLC owned about 0.33% of GXO Logistics worth $17,150,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC grew its position in shares of GXO Logistics by 28.9% in the third quarter. Barclays PLC now owns 62,545 shares of the company's stock valued at $3,256,000 after purchasing an additional 14,020 shares in the last quarter. Kirr Marbach & Co. LLC IN grew its position in shares of GXO Logistics by 57.1% in the fourth quarter. Kirr Marbach & Co. LLC IN now owns 155,720 shares of the company's stock valued at $6,774,000 after purchasing an additional 56,581 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of GXO Logistics by 55.5% in the fourth quarter. Sterling Capital Management LLC now owns 6,957 shares of the company's stock valued at $303,000 after purchasing an additional 2,482 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of GXO Logistics in the fourth quarter valued at $1,255,000. Finally, Raymond James Financial Inc. purchased a new position in GXO Logistics during the fourth quarter worth about $20,905,000. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Price Performance

GXO stock traded up $0.44 during mid-day trading on Thursday, hitting $41.38. 118,248 shares of the stock were exchanged, compared to its average volume of 1,514,149. 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 business has a fifty day moving average price of $37.51 and a 200 day moving average price of $43.11. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 1.34 and a beta of 1.56.

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

Wall Street Analyst Weigh In

Several research firms recently commented on GXO. Barclays reduced their target price on GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. Truist Financial reduced their target price on GXO Logistics from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Citigroup reduced their target price on GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Loop Capital cut GXO Logistics from a "buy" rating to a "hold" rating and reduced their target price for the stock from $71.00 to $49.00 in a research report on Monday, February 3rd. Finally, Stifel Nicolaus restated a "buy" rating and set a $66.00 target price (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued 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 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.