Amalgamated Bank Has $3.76 Million Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Amalgamated Bank cut its stake in GXO Logistics, Inc. (NYSE:GXO) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,543 shares of the company’s stock after selling 4,918 shares during the period. Amalgamated Bank’s holdings in GXO Logistics were worth $3,764,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in shares of GXO Logistics by 170.7% in the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock valued at $60,000 after purchasing an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 acquiring an additional 1,151 shares during the last quarter. Motco boosted its position 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 acquiring an additional 1,248 shares during the last quarter. Smithfield Trust Co grew its holdings in GXO Logistics by 16.5% during the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock worth $73,000 after acquiring an additional 195 shares during the period. Finally, LRI Investments LLC bought a new position in shares of GXO Logistics in the 1st quarter worth about $80,000. Institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

Shares of GXO opened at $51.51 on Monday. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $63.07. 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 stock has a 50 day moving average price of $50.72 and a two-hundred day moving average price of $50.47. The firm has a market capitalization of $6.15 billion, a P/E ratio of 37.06, a P/E/G ratio of 1.46 and a beta of 1.58.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $2.85 billion for 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 was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. Equities analysts forecast that GXO Logistics, Inc. will post 2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of GXO Logistics in a research note on Friday, June 7th. They issued an “overweight” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. increased their price target on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, UBS Group reduced their price objective on GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.45.

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.