Pacer Advisors Inc. Raises Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Pacer Advisors Inc. grew its holdings in GXO Logistics, Inc. (NYSE:GXO) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,220 shares of the company’s stock after acquiring an additional 317 shares during the period. Pacer Advisors Inc.’s holdings in GXO Logistics were worth $1,577,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of GXO Logistics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock valued at $603,636,000 after acquiring an additional 82,485 shares during the period. American Century Companies Inc. raised its stake in shares of GXO Logistics by 25.2% in the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock valued at $162,702,000 after acquiring an additional 648,547 shares during the period. Clearbridge Investments LLC raised its stake in shares of GXO Logistics by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company’s stock valued at $158,967,000 after acquiring an additional 15,463 shares during the period. Fort Pitt Capital Group LLC raised its stake in shares of GXO Logistics by 30.4% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock valued at $122,039,000 after acquiring an additional 563,057 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of GXO Logistics by 11.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after acquiring an additional 240,766 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Up 1.0 %

NYSE GXO opened at $51.54 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $50.48 and its 200 day simple moving average is $50.52. GXO Logistics, Inc. has a 12 month low of $46.07 and a 12 month high of $63.07. The company has a market capitalization of $6.16 billion, a P/E ratio of 37.08, a PEG ratio of 1.55 and a beta of 1.58.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. Equities research analysts expect that GXO Logistics, Inc. will post 2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GXO shares. Wells Fargo & Company started 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 on the stock. Susquehanna dropped their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, UBS Group dropped their price target on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, GXO Logistics presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.27.

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.