GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 94.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,659 shares of the company’s stock after selling 121,461 shares during the quarter. Edgestream Partners L.P.’s holdings in GXO Logistics were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GXO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of GXO Logistics by 2.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company’s stock worth $26,153,000 after purchasing an additional 12,208 shares during the last quarter. Raymond James & Associates raised its stake in shares of GXO Logistics by 16.3% during the 3rd quarter. Raymond James & Associates now owns 466,749 shares of the company’s stock valued at $24,304,000 after buying an additional 65,534 shares during the last quarter. Swedbank AB lifted its holdings in shares of GXO Logistics by 15.9% in the 2nd quarter. Swedbank AB now owns 1,825,000 shares of the company’s stock valued at $92,162,000 after buying an additional 250,000 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of GXO Logistics in the third quarter worth about $6,819,000. Finally, Susquehanna Fundamental Investments LLC grew its holdings in GXO Logistics by 537.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 137,732 shares of the company’s stock worth $6,955,000 after acquiring an additional 116,125 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Price Performance

Shares of GXO Logistics stock opened at $49.83 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $58.28 and a two-hundred day simple moving average of $53.08. The stock has a market capitalization of $5.95 billion, a P/E ratio of 55.37, a PEG ratio of 1.78 and a beta of 1.52. GXO Logistics, Inc. has a 12 month low of $46.07 and a 12 month high of $63.33.

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

Analyst Upgrades and Downgrades

GXO has been the topic of several recent research reports. Citigroup assumed coverage on GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Oppenheimer increased their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. TD Cowen lifted their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays lowered their target price on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, UBS Group lifted their price target on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

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.