Price T Rowe Associates Inc. MD Decreases Position in GXO Logistics, Inc. (NYSE:GXO)

Price T Rowe Associates Inc. MD reduced its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 758,301 shares of the company's stock after selling 37,792 shares during the period. Price T Rowe Associates Inc. MD owned 0.63% of GXO Logistics worth $32,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of GXO Logistics during the fourth quarter worth about $55,266,000. Vaughan Nelson Investment Management L.P. purchased a new stake in GXO Logistics during the 4th quarter valued at approximately $47,626,000. River Road Asset Management LLC raised its position in shares of GXO Logistics by 53.5% during the fourth quarter. River Road Asset Management LLC now owns 2,008,168 shares of the company's stock valued at $87,355,000 after buying an additional 699,636 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of GXO Logistics in the fourth quarter worth $20,905,000. Finally, Life Planning Partners Inc boosted its position in shares of GXO Logistics by 4,250.0% during the fourth quarter. Life Planning Partners Inc now owns 263,393 shares of the company's stock worth $11,458,000 after acquiring an additional 257,338 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Up 3.7 %

Shares of GXO Logistics stock traded up $1.35 during trading on Friday, hitting $37.52. 812,894 shares of the stock traded hands, compared to its average volume of 1,249,625. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The stock's fifty day simple moving average is $37.16 and its 200 day simple moving average is $45.56. The firm has a market cap of $4.39 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83.

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 analysts' consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. On average, equities analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on GXO. The Goldman Sachs Group decreased their price target on shares of GXO Logistics from $63.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company decreased their target price on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Morgan Stanley reduced their price objective on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on GXO Logistics in a report on Friday, March 7th. They set a "hold" rating and a $45.00 price target on the stock. Finally, Oppenheimer dropped their price objective on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.57.

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.