Covestor Ltd Lowers Stake in GXO Logistics, Inc. (NYSE:GXO)

Covestor Ltd decreased its position in GXO Logistics, Inc. (NYSE:GXO) by 18.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,001 shares of the company’s stock after selling 227 shares during the quarter. Covestor Ltd’s holdings in GXO Logistics were worth $52,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Eminence Capital LP acquired a new position in GXO Logistics in the 2nd quarter valued at about $79,698,000. Swedbank AB acquired a new stake in GXO Logistics during the 1st quarter worth approximately $84,672,000. Spruce House Investment Management LLC grew its stake in shares of GXO Logistics by 827.8% in the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock worth $45,450,000 after acquiring an additional 803,000 shares in the last quarter. American Century Companies Inc. raised its stake in shares of GXO Logistics by 25.2% in the second 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. Finally, Fort Pitt Capital Group LLC boosted its holdings in GXO Logistics by 30.4% in the second quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company’s stock valued at $122,039,000 after purchasing an additional 563,057 shares during the period. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Stock Down 1.1 %

GXO Logistics stock opened at $59.74 on Friday. The company has a market capitalization of $7.14 billion, a P/E ratio of 66.37, a PEG ratio of 1.81 and a beta of 1.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.33. The stock has a 50-day simple moving average of $55.86 and a 200-day simple moving average of $52.32.

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, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company’s revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. Equities research analysts expect that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group lifted their price objective on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays lifted their price target on shares of GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Susquehanna dropped their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. TD Cowen lifted their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Citigroup assumed coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, GXO Logistics has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.