Clearbridge Investments LLC Trims Position in GXO Logistics, Inc. (NYSE:GXO)

Clearbridge Investments LLC cut its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 4.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,838,314 shares of the company’s stock after selling 118,667 shares during the period. Clearbridge Investments LLC’s holdings in GXO Logistics were worth $143,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. increased its holdings in GXO Logistics by 170.7% during the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock worth $60,000 after acquiring an additional 700 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in GXO Logistics by 920.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock valued at $64,000 after buying an additional 1,151 shares during the period. Motco boosted its stake in GXO Logistics by 2,836.4% during the first quarter. Motco now owns 1,292 shares of the company’s stock valued at $69,000 after buying an additional 1,248 shares during the period. Smithfield Trust Co grew its position in GXO Logistics by 16.5% during the first quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock worth $73,000 after buying an additional 195 shares in the last quarter. Finally, LRI Investments LLC bought a new position in GXO Logistics in the 1st quarter worth about $80,000. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Susquehanna dropped their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. UBS Group cut their price target on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company started coverage on shares of GXO Logistics in a research report on Friday, June 7th. They set an “overweight” rating and a $58.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and a consensus price target of $67.27.

GXO Logistics Stock Down 2.6 %

Shares of NYSE:GXO opened at $50.71 on Wednesday. The stock has a market capitalization of $6.06 billion, a P/E ratio of 36.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.58. The stock’s 50-day moving average price is $50.32 and its 200-day moving average price is $50.58. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a 12-month low of $46.07 and a 12-month high of $63.07.

GXO Logistics (NYSE:GXO) last announced its quarterly 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). The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. GXO Logistics’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. On average, equities analysts anticipate that GXO Logistics, Inc. will post 2.79 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.