Rhumbline Advisers Sells 5,721 Shares of GXO Logistics, Inc. (NYSE:GXO)

Rhumbline Advisers lessened its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 324,108 shares of the company's stock after selling 5,721 shares during the quarter. Rhumbline Advisers owned 0.28% of GXO Logistics worth $12,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GXO. Sterling Capital Management LLC increased its position 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 valued at $303,000 after buying an additional 2,482 shares during the period. Proficio Capital Partners LLC bought a new position in shares of GXO Logistics in the fourth quarter worth approximately $1,255,000. Raymond James Financial Inc. bought a new position in shares of GXO Logistics in the fourth quarter worth approximately $20,905,000. Quantinno Capital Management LP lifted its position in GXO Logistics by 32.8% during the fourth quarter. Quantinno Capital Management LP now owns 6,901 shares of the company's stock valued at $300,000 after purchasing an additional 1,704 shares during the period. Finally, Prudential Financial Inc. lifted its position in GXO Logistics by 202.0% during the fourth quarter. Prudential Financial Inc. now owns 29,682 shares of the company's stock valued at $1,291,000 after purchasing an additional 19,854 shares during the period. Hedge funds and other institutional investors own 90.67% of the company's stock.

GXO Logistics Trading Up 1.9%

Shares of GXO opened at $49.01 on Friday. GXO Logistics, Inc. has a 1-year low of $30.46 and a 1-year high of $63.33. The company has a 50-day moving average of $41.00 and a 200 day moving average of $41.06. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 79.05, a PEG ratio of 2.23 and a beta of 1.59. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.78.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GXO. Susquehanna restated a "positive" rating and set a $58.00 price objective (up previously from $57.00) on shares of GXO Logistics in a research report on Tuesday. Wells Fargo & Company increased 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. Citigroup cut their target price on shares of GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Truist Financial cut their target price on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a "hold" rating and a $45.00 price objective for the company. Five 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.86.

GXO Logistics 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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