GXO Logistics, Inc. (NYSE:GXO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,752 shares of the company’s stock after selling 785 shares during the period. PNC Financial Services Group Inc.’s holdings in GXO Logistics were worth $1,549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. increased its position in GXO Logistics by 25.2% during the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock valued at $162,702,000 after buying an additional 648,547 shares in the last quarter. Fort Pitt Capital Group LLC increased its holdings in shares of GXO Logistics by 2.1% during the third quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock valued at $128,499,000 after acquiring an additional 51,208 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of GXO Logistics by 11.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after purchasing an additional 240,766 shares during the last quarter. Swedbank AB boosted its stake in GXO Logistics by 15.9% in the 2nd quarter. Swedbank AB now owns 1,825,000 shares of the company’s stock worth $92,162,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Eminence Capital LP purchased a new stake in GXO Logistics during the 2nd quarter worth approximately $79,698,000. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on GXO. UBS Group raised their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Citigroup assumed coverage on GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. Susquehanna reduced their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Barclays upped their target price on GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, TD Cowen increased their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.00.

GXO Logistics Stock Performance

Shares of NYSE GXO opened at $60.52 on Wednesday. The company has a market capitalization of $7.23 billion, a PE ratio of 67.24, a price-to-earnings-growth ratio of 1.82 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. The company’s fifty day moving average price is $57.27 and its 200 day moving average price is $52.77. GXO Logistics, Inc. has a 1 year low of $46.07 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO) last posted its earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, research analysts predict that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

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.