Kovitz Investment Group Partners LLC Increases Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Kovitz Investment Group Partners LLC raised its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 28,112.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,621,515 shares of the company's stock after purchasing an additional 2,612,223 shares during the period. Kovitz Investment Group Partners LLC owned 2.19% of GXO Logistics worth $114,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Barclays PLC lifted its position in GXO Logistics by 28.9% during the third quarter. Barclays PLC now owns 62,545 shares of the company's stock valued at $3,256,000 after acquiring an additional 14,020 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of GXO Logistics during the 3rd quarter valued at $210,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of GXO Logistics in the 3rd quarter worth $71,000. Tidal Investments LLC acquired a new position in GXO Logistics during the 3rd quarter valued at about $667,000. Finally, Synovus Financial Corp raised its stake in GXO Logistics by 10.8% in the third quarter. Synovus Financial Corp now owns 9,018 shares of the company's stock valued at $470,000 after buying an additional 882 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Down 1.1 %

Shares of NYSE:GXO traded down $0.39 on Wednesday, hitting $35.36. 230,361 shares of the company's stock were exchanged, compared to its average volume of 1,236,625. GXO Logistics, Inc. has a 1-year low of $30.46 and a 1-year high of $63.33. The company has a market capitalization of $4.14 billion, a PE ratio of 31.57, a P/E/G ratio of 1.34 and a beta of 1.56. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The firm's 50-day moving average is $37.36 and its 200 day moving average is $46.09.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Sell-side analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

GXO has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group cut their price target on GXO Logistics from $63.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Truist Financial dropped their target price on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Barclays lowered their price objective on GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on GXO Logistics in a research report on Friday, March 7th. They issued a "hold" rating and a $45.00 target price on the stock. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $54.57.

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.