Russell Investments Group Ltd. Decreases Stake in GXO Logistics, Inc. (NYSE:GXO)

Russell Investments Group Ltd. cut its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 18.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,137 shares of the company's stock after selling 62,988 shares during the period. Russell Investments Group Ltd. owned 0.24% of GXO Logistics worth $17,562,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Handelsbanken Fonder AB grew its position in GXO Logistics by 3,033.0% during the fourth quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company's stock worth $34,873,000 after buying an additional 552,000 shares in the last quarter. Payden & Rygel Investment Group bought a new position in shares of GXO Logistics during the 3rd quarter worth about $18,272,000. Victory Capital Management Inc. boosted its position in shares of GXO Logistics by 136.5% during the 3rd quarter. Victory Capital Management Inc. now owns 469,391 shares of the company's stock valued at $27,530,000 after acquiring an additional 270,952 shares in the last quarter. Invesco Ltd. boosted its holdings in GXO Logistics by 22.6% during the third quarter. Invesco Ltd. now owns 1,466,267 shares of the company's stock valued at $85,997,000 after purchasing an additional 270,524 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of GXO Logistics by 31.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 526,000 shares of the company's stock worth $30,850,000 after buying an additional 126,000 shares during the period. Institutional investors own 90.67% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GXO shares. JPMorgan Chase & Co. cut their price objective on GXO Logistics from $67.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, April 9th. TD Cowen upped their target price on shares of GXO Logistics from $78.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, April 25th. Susquehanna lifted their price target on shares of GXO Logistics from $73.00 to $75.00 and gave the stock a "positive" rating in a research report on Thursday, February 15th. Citigroup reduced their target price on GXO Logistics from $66.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, February 15th. Finally, Loop Capital reduced their price target on shares of GXO Logistics from $76.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday, April 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.69.

GXO Logistics Stock Performance

Shares of NYSE:GXO traded up $0.01 on Friday, reaching $50.25. 670,410 shares of the company's stock were exchanged, compared to its average volume of 857,765. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55. GXO Logistics, Inc. has a twelve month low of $48.11 and a twelve month high of $67.57. The company has a fifty day moving average of $50.66 and a 200-day moving average of $54.38. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 2.07 and a beta of 1.63.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating 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 business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. GXO Logistics's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts predict that GXO Logistics, Inc. will post 2.78 EPS 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.