Perpetual Ltd Sells 109,058 Shares of GXO Logistics, Inc. (NYSE:GXO)

Perpetual Ltd lowered its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,034,483 shares of the company's stock after selling 109,058 shares during the quarter. GXO Logistics makes up approximately 1.4% of Perpetual Ltd's investment portfolio, making the stock its 18th largest position. Perpetual Ltd owned 2.54% of GXO Logistics worth $118,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Golden State Wealth Management LLC bought a new position in GXO Logistics in the first quarter valued at about $34,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of GXO Logistics during the fourth quarter valued at about $41,000. Summit Securities Group LLC grew its holdings in shares of GXO Logistics by 870.9% during the fourth 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. Finally, Quarry LP increased its stake in shares of GXO Logistics by 1,334.9% in the fourth quarter. Quarry LP now owns 1,234 shares of the company's stock valued at $54,000 after buying an additional 1,148 shares during the period. Institutional investors own 90.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GXO shares. Citigroup dropped their price objective on shares of GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a research report on Friday, March 7th. They issued a "hold" rating and a $45.00 price target for the company. Wells Fargo & Company raised their price target on shares of GXO Logistics from $44.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Truist Financial reduced their price objective on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Finally, Stifel Nicolaus increased their price objective on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a report on Monday. Five investment 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, GXO Logistics currently has an average rating of "Moderate Buy" and a consensus target price of $53.86.

GXO Logistics Stock Performance

GXO stock opened at $48.29 on Friday. The firm has a market cap of $5.52 billion, a PE ratio of 77.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.59. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $40.69 and a 200-day moving average price of $41.06. GXO Logistics, Inc. has a 1-year low of $30.46 and a 1-year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The business had revenue of $2.98 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The firm's revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

GXO Logistics Company Profile

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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