HighTower Advisors LLC Sells 577 Shares of GXO Logistics, Inc. (NYSE:GXO)

HighTower Advisors LLC decreased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 8.2% in the third quarter, HoldingsChannel reports. The firm owned 6,475 shares of the company’s stock after selling 577 shares during the quarter. HighTower Advisors LLC’s holdings in GXO Logistics were worth $334,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GXO. DekaBank Deutsche Girozentrale purchased a new stake in GXO Logistics in the third quarter worth $28,000. UMB Bank n.a. boosted its holdings in shares of GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after acquiring an additional 331 shares during the last quarter. Signaturefd LLC raised its stake in GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after buying an additional 249 shares during the last quarter. Hara Capital LLC bought a new stake in shares of GXO Logistics during the 3rd quarter valued at about $50,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position 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 worth $54,000 after acquiring an additional 282 shares during the period. Institutional investors own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GXO. TD Cowen raised their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. UBS Group boosted their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Citigroup started coverage on GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target for the company. Susquehanna dropped their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, Barclays cut their price target on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

GXO Logistics Price Performance

Shares of GXO opened at $41.93 on Tuesday. The company has a 50 day moving average of $57.16 and a two-hundred day moving average of $52.84. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. GXO Logistics, Inc. has a twelve month low of $41.58 and a twelve month high of $63.33. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 46.59, a price-to-earnings-growth ratio of 1.49 and a beta of 1.52.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, analysts predict that GXO Logistics, Inc. will post 2.76 earnings per share for the current fiscal 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.