Carnegie Capital Asset Management LLC Raises Position in GXO Logistics, Inc. (NYSE:GXO)

Carnegie Capital Asset Management LLC grew its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 353,449 shares of the company's stock after acquiring an additional 43,271 shares during the quarter. Carnegie Capital Asset Management LLC owned 0.30% of GXO Logistics worth $21,617,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GXO. Citigroup Inc. boosted its position in shares of GXO Logistics by 25.6% during the first quarter. Citigroup Inc. now owns 16,948 shares of the company's stock worth $1,208,000 after buying an additional 3,457 shares during the period. Bank of Montreal Can boosted its position in shares of GXO Logistics by 175.7% during the first quarter. Bank of Montreal Can now owns 24,502 shares of the company's stock worth $1,843,000 after buying an additional 15,615 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in GXO Logistics by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,133 shares of the company's stock valued at $2,578,000 after purchasing an additional 3,445 shares during the last quarter. Raymond James Trust N.A. boosted its position in GXO Logistics by 44.8% during the first quarter. Raymond James Trust N.A. now owns 5,979 shares of the company's stock valued at $427,000 after purchasing an additional 1,849 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in GXO Logistics by 2.5% during the first quarter. Lord Abbett & CO. LLC now owns 169,181 shares of the company's stock valued at $12,069,000 after purchasing an additional 4,084 shares during the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Price Performance

GXO Logistics stock traded down $0.67 during mid-day trading on Friday, reaching $50.87. 891,176 shares of the company were exchanged, compared to its average volume of 989,918. The company has a fifty day simple moving average of $52.15 and a 200-day simple moving average of $54.98. GXO Logistics, Inc. has a 12 month low of $48.12 and a 12 month high of $67.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $6.07 billion, a PE ratio of 26.63, a PEG ratio of 2.15 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the company earned $0.83 EPS. The company's revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that GXO Logistics, Inc. will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now owns 20,851 shares of the company's stock, valued at approximately $1,042,550. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on GXO. BNP Paribas raised GXO Logistics from an "underperform" rating to a "neutral" rating and set a $50.00 price target for the company in a research report on Wednesday, March 27th. Stifel Nicolaus increased their price target on GXO Logistics from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, January 10th. TD Cowen upped their price objective on GXO Logistics from $70.00 to $78.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Susquehanna upped their price objective on GXO Logistics from $73.00 to $75.00 and gave the company a "positive" rating in a research note on Thursday, February 15th. Finally, Citigroup dropped their price objective on GXO Logistics from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, GXO Logistics has a consensus rating of "Moderate Buy" and an average price target of $69.17.

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.