WASHINGTON TRUST Co Reduces Stock Position in GXO Logistics, Inc. (NYSE:GXO)

WASHINGTON TRUST Co cut its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 26.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 137,686 shares of the company’s stock after selling 50,527 shares during the period. WASHINGTON TRUST Co owned about 0.12% of GXO Logistics worth $5,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in GXO Logistics by 1.9% during the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock valued at $189,083,000 after acquiring an additional 66,232 shares during the last quarter. Fort Pitt Capital Group LLC grew its stake in shares of GXO Logistics by 2.1% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock valued at $128,499,000 after purchasing an additional 51,208 shares during the period. Swedbank AB increased its position in shares of GXO Logistics by 13.9% during the 4th quarter. Swedbank AB now owns 2,050,000 shares of the company’s stock valued at $89,175,000 after purchasing an additional 250,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GXO Logistics by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock worth $103,279,000 after purchasing an additional 29,992 shares during the period. Finally, River Road Asset Management LLC boosted its holdings in shares of GXO Logistics by 40.4% in the third quarter. River Road Asset Management LLC now owns 1,308,532 shares of the company’s stock worth $68,135,000 after buying an additional 376,704 shares during the last quarter. 90.67% of the stock is owned by institutional investors.

GXO Logistics Trading Up 8.8 %

Shares of GXO opened at $39.49 on Friday. The firm has a market cap of $4.72 billion, a P/E ratio of 43.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics, Inc. has a 1 year low of $34.51 and a 1 year high of $63.33. The company has a 50 day simple moving average of $44.40 and a two-hundred day simple moving average of $50.86.

GXO Logistics (NYSE:GXO) last issued its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. On average, equities analysts expect that GXO Logistics, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on GXO shares. Morgan Stanley reduced their target price on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company decreased their target price on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group cut their price target on GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group decreased their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Barclays cut their price objective on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.54.

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.