Maven Securities LTD Sells 25,000 Shares of GXO Logistics, Inc. (NYSE:GXO)

Maven Securities LTD reduced its stake in GXO Logistics, Inc. (NYSE:GXO) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the company’s stock after selling 25,000 shares during the period. Maven Securities LTD’s holdings in GXO Logistics were worth $2,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eminence Capital LP purchased a new stake in GXO Logistics during the 2nd quarter valued at about $79,698,000. Swedbank AB purchased a new stake in shares of GXO Logistics during the first quarter valued at approximately $84,672,000. Spruce House Investment Management LLC increased its position in shares of GXO Logistics by 827.8% during the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock valued at $45,450,000 after acquiring an additional 803,000 shares in the last quarter. Fort Pitt Capital Group LLC raised its holdings in GXO Logistics by 60.4% in the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after acquiring an additional 698,180 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in 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 in the last quarter. 90.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

GXO Logistics Stock Performance

Shares of NYSE GXO opened at $50.71 on Wednesday. The firm has a 50 day moving average of $50.32 and a 200 day moving average of $50.58. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.58. GXO Logistics, Inc. has a 12-month low of $46.07 and a 12-month high of $63.07. 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 (NYSE:GXO) last released its earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. GXO Logistics’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. On average, research analysts anticipate that GXO Logistics, Inc. will post 2.79 earnings per share for the current year.

GXO Logistics Profile

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.