Principal Financial Group Inc. Grows Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Principal Financial Group Inc. increased its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 878,492 shares of the company's stock after purchasing an additional 18,152 shares during the quarter. Principal Financial Group Inc. owned 0.74% of GXO Logistics worth $53,729,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its position in GXO Logistics by 0.4% in the 3rd quarter. Clearbridge Investments LLC now owns 2,865,806 shares of the company's stock worth $168,080,000 after purchasing an additional 10,830 shares during the last quarter. FMR LLC raised its stake in GXO Logistics by 0.4% during the 3rd quarter. FMR LLC now owns 2,173,881 shares of the company's stock valued at $127,498,000 after acquiring an additional 8,668 shares in the last quarter. Invesco Ltd. boosted its position in GXO Logistics by 22.6% during the 3rd quarter. Invesco Ltd. now owns 1,466,267 shares of the company's stock worth $85,997,000 after acquiring an additional 270,524 shares during the period. Fort Pitt Capital Group LLC grew its stake in shares of GXO Logistics by 0.3% in the third quarter. Fort Pitt Capital Group LLC now owns 1,149,398 shares of the company's stock worth $67,412,000 after purchasing an additional 3,868 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of GXO Logistics by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,134,844 shares of the company's stock valued at $69,407,000 after purchasing an additional 21,454 shares during the period. Institutional investors and hedge funds own 90.67% of the company's stock.

Insider Buying and Selling at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the completion of the sale, the director now directly owns 20,851 shares of the company's stock, valued at $1,042,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company's stock.

GXO Logistics Trading Up 0.1 %

GXO Logistics stock traded up $0.06 during midday trading on Thursday, reaching $52.66. The stock had a trading volume of 578,836 shares, compared to its average volume of 860,474. The firm's fifty day simple moving average is $50.81 and its two-hundred day simple moving average is $54.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. GXO Logistics, Inc. has a twelve month low of $48.11 and a twelve month high of $67.57. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 1.36 and a beta of 1.63.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.38 billion. GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. GXO Logistics's revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. Equities analysts anticipate that GXO Logistics, Inc. will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GXO. JPMorgan Chase & Co. lowered their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 9th. TD Cowen upped their price objective on GXO Logistics from $80.00 to $82.00 and gave the company a "buy" rating in a report on Thursday, May 9th. Citigroup decreased their target price on GXO Logistics from $66.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, February 15th. Morgan Stanley reiterated an "overweight" rating and issued a $70.00 price target on shares of GXO Logistics in a research report on Tuesday. Finally, Loop Capital reduced their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a "buy" rating for the company in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.38.

About GXO Logistics

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.