GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 25.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,165 shares of the company’s stock after selling 3,800 shares during the quarter. Pinnacle Associates Ltd.’s holdings in GXO Logistics were worth $581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of GXO Logistics during the third quarter worth about $28,000. UMB Bank n.a. increased its position in GXO Logistics by 111.4% during the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after buying an additional 331 shares during the period. Signaturefd LLC increased its position in GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after buying an additional 249 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in GXO Logistics by 37.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after buying an additional 282 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of GXO Logistics by 170.7% in the second quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock valued at $60,000 after acquiring an additional 700 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GXO has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Citigroup assumed coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price for the company. UBS Group dropped their price target on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Susquehanna decreased their price objective 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. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.91.

GXO Logistics Price Performance

GXO Logistics stock opened at $58.58 on Friday. GXO Logistics, Inc. has a one year low of $46.07 and a one year high of $63.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. The business has a fifty day moving average of $53.95 and a two-hundred day moving average of $51.70. The company has a market cap of $7.00 billion, a P/E ratio of 50.07, a price-to-earnings-growth ratio of 1.79 and a beta of 1.55.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, analysts predict that GXO Logistics, Inc. will post 2.78 earnings per share for the current fiscal year.

GXO Logistics Company 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.