Wealth Enhancement Advisory Services LLC Has $2.38 Million Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 35.2% during the first quarter, Holdings Channel reports. The fund owned 44,308 shares of the company’s stock after buying an additional 11,543 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in GXO Logistics were worth $2,382,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GXO. Mariner LLC lifted its position in shares of GXO Logistics by 15.9% during the 3rd quarter. Mariner LLC now owns 9,271 shares of the company’s stock valued at $544,000 after acquiring an additional 1,273 shares during the period. Kennedy Capital Management LLC lifted its position in shares of GXO Logistics by 47.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 144,957 shares of the company’s stock valued at $8,502,000 after acquiring an additional 46,732 shares during the period. Sei Investments Co. increased its stake in GXO Logistics by 11.8% during the 3rd quarter. Sei Investments Co. now owns 408,004 shares of the company’s stock valued at $23,929,000 after purchasing an additional 42,931 shares in the last quarter. Ramirez Asset Management Inc. bought a new stake in GXO Logistics during the 3rd quarter valued at $226,000. Finally, Advisors Capital Management LLC increased its stake in GXO Logistics by 1.6% during the 3rd quarter. Advisors Capital Management LLC now owns 601,454 shares of the company’s stock valued at $35,275,000 after purchasing an additional 9,288 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on GXO shares. BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price target on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Loop Capital decreased their price target on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company assumed coverage on shares of GXO Logistics in a research note on Friday, June 7th. They set an “overweight” rating and a $58.00 price target for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price on shares of GXO Logistics in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.85.

Insider Buying and Selling

In related news, CEO Malcolm Wilson purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $49.95 per share, with a total value of $499,500.00. Following the acquisition, the chief executive officer now owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by insiders.

GXO Logistics Price Performance

Shares of NYSE:GXO opened at $49.39 on Friday. The company’s 50-day moving average is $50.22 and its 200 day moving average is $52.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $5.90 billion, a P/E ratio of 35.53, a price-to-earnings-growth ratio of 1.48 and a beta of 1.60. GXO Logistics, Inc. has a fifty-two week low of $46.38 and a fifty-two week high of $67.57.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities research analysts forecast that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

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.