Eventide Asset Management LLC Increases Stake in GXO Logistics, Inc. (NYSE:GXO)

Eventide Asset Management LLC raised its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 221,020 shares of the company’s stock after purchasing an additional 186 shares during the quarter. Eventide Asset Management LLC’s holdings in GXO Logistics were worth $11,509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GXO. DekaBank Deutsche Girozentrale purchased a new position in shares of GXO Logistics in the third quarter valued at $28,000. UMB Bank n.a. boosted its stake in GXO Logistics by 111.4% in the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock worth $33,000 after purchasing an additional 331 shares during the period. Signaturefd LLC grew its holdings 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 in the last quarter. Hara Capital LLC purchased a new position in GXO Logistics during the 3rd quarter valued at about $50,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of GXO Logistics by 37.6% during 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 period. Institutional investors own 90.67% of the company’s stock.

GXO Logistics Price Performance

Shares of GXO Logistics stock opened at $60.88 on Friday. The business’s 50-day moving average price is $57.77 and its 200-day moving average price is $52.93. The firm has a market capitalization of $7.27 billion, a PE ratio of 67.64, a price-to-earnings-growth ratio of 1.83 and a beta of 1.55. GXO Logistics, Inc. has a 12 month low of $46.07 and a 12 month high of $63.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last announced 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 net margin of 0.97% and a return on equity of 10.03%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts forecast that GXO Logistics, Inc. will post 2.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GXO has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays boosted their price target on shares of GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Citigroup began coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target on the stock. TD Cowen lifted their price objective on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Susquehanna decreased their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.00.

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.