Voya Investment Management LLC Has $1.09 Million Stock Position in GXO Logistics, Inc. $GXO

Voya Investment Management LLC raised its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 27,994 shares of the company's stock after acquiring an additional 6,461 shares during the quarter. Voya Investment Management LLC's holdings in GXO Logistics were worth $1,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Advisors Capital Management LLC increased its position in GXO Logistics by 17.2% in the 1st quarter. Advisors Capital Management LLC now owns 130,248 shares of the company's stock valued at $5,090,000 after acquiring an additional 19,157 shares during the period. Geneos Wealth Management Inc. increased its position in GXO Logistics by 4,775.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,999 shares of the company's stock valued at $78,000 after acquiring an additional 1,958 shares during the period. Bayforest Capital Ltd acquired a new position in GXO Logistics in the 1st quarter valued at approximately $151,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of GXO Logistics by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 377,211 shares of the company's stock worth $14,741,000 after buying an additional 8,670 shares during the period. Finally, United Services Automobile Association acquired a new stake in shares of GXO Logistics during the first quarter worth $307,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GXO shares. JPMorgan Chase & Co. increased their price objective on shares of GXO Logistics from $56.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Stifel Nicolaus increased their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Susquehanna increased their price objective on shares of GXO Logistics from $58.00 to $60.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Citigroup increased their price objective on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Oppenheimer increased their price objective on shares of GXO Logistics from $55.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $50.38 on Wednesday. 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's 50-day simple moving average is $51.44 and its 200 day simple moving average is $44.59. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 95.06, a PEG ratio of 2.00 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 announced its earnings results on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

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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