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

Perpetual Ltd cut its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,034,483 shares of the company's stock after selling 109,058 shares during the period. GXO Logistics comprises approximately 1.4% of Perpetual Ltd's investment portfolio, making the stock its 18th biggest position. Perpetual Ltd owned approximately 2.54% of GXO Logistics worth $118,588,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in shares of GXO Logistics by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 6,957 shares of the company's stock worth $303,000 after buying an additional 2,482 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of GXO Logistics by 32.8% in the fourth quarter. Quantinno Capital Management LP now owns 6,901 shares of the company's stock worth $300,000 after purchasing an additional 1,704 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of GXO Logistics in the fourth quarter worth $1,255,000. Raymond James Financial Inc. bought a new stake in shares of GXO Logistics in the fourth quarter worth $20,905,000. Finally, Prudential Financial Inc. grew its stake in shares of GXO Logistics by 202.0% in the fourth quarter. Prudential Financial Inc. now owns 29,682 shares of the company's stock worth $1,291,000 after purchasing an additional 19,854 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GXO shares. Susquehanna reissued a "positive" rating and issued a $58.00 price objective (up previously from $57.00) on shares of GXO Logistics in a research note on Tuesday, June 24th. Wells Fargo & Company boosted their price objective on shares of GXO Logistics from $44.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of GXO Logistics in a research note on Friday, March 7th. They issued a "hold" rating and a $45.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Truist Financial boosted their price objective on shares of GXO Logistics from $40.00 to $48.00 and gave the stock a "hold" rating in a research note on Monday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.79.

GXO Logistics Trading Down 0.5%

GXO traded down $0.23 during trading on Monday, reaching $48.77. 1,035,623 shares of the stock traded hands, compared to its average volume of 1,332,883. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $5.58 billion, a PE ratio of 78.66, a P/E/G ratio of 2.28 and a beta of 1.59. The stock's 50-day moving average is $41.31 and its 200 day moving average is $40.95. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The company had revenue of $2.98 billion for the quarter, compared to analysts' expectations of $2.94 billion. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The business's revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities analysts anticipate 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.