Tritonpoint Wealth LLC Lowers Position in GXO Logistics, Inc. $GXO

Key Points

• Tritonpoint Wealth LLC has reduced its stake in GXO Logistics by 40.9%, now holding 31,790 shares worth approximately $1.55 million.
• Multiple hedge funds, including Orbis Allan Gray Ltd and Vanguard Group Inc, have increased their positions in GXO Logistics, highlighting strong institutional interest in the company.
• Analysts are optimistic about GXO Logistics, with several upgrades to "buy" ratings and target prices raised to as high as $62, reflecting confidence in the company's performance.

Tritonpoint Wealth LLC lessened its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 40.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,790 shares of the company's stock after selling 22,030 shares during the period. Tritonpoint Wealth LLC's holdings in GXO Logistics were worth $1,548,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Orbis Allan Gray Ltd lifted its position in shares of GXO Logistics by 6.5% during the 1st quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company's stock valued at $526,532,000 after buying an additional 818,353 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of GXO Logistics by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 11,370,657 shares of the company's stock valued at $444,365,000 after buying an additional 37,852 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of GXO Logistics by 29.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock valued at $141,021,000 after buying an additional 810,298 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of GXO Logistics by 27.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company's stock valued at $130,143,000 after buying an additional 708,661 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of GXO Logistics by 1,521.9% during the 1st quarter. Alliancebernstein L.P. now owns 2,511,289 shares of the company's stock valued at $98,141,000 after buying an additional 2,356,452 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and increased their target price for the company from $48.00 to $62.00 in a research report on Friday, July 11th. UBS Group increased their target price on GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Barclays raised their price objective on GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Citigroup raised their price objective on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Susquehanna raised their price objective on GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $60.50.

GXO Logistics Trading Up 1.7%

Shares of GXO stock opened at $53.63 on Friday. The stock's fifty day moving average is $51.52 and its two-hundred day moving average is $44.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $6.14 billion, a P/E ratio of 101.19, a PEG ratio of 2.15 and a beta of 1.65. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned $0.55 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal 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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