Carnegie Investment Counsel Reduces Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Carnegie Investment Counsel lessened its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 35.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 110,762 shares of the company’s stock after selling 61,668 shares during the quarter. Carnegie Investment Counsel’s holdings in GXO Logistics were worth $4,818,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GXO. Mount Lucas Management LP boosted its holdings in shares of GXO Logistics by 2.4% in the third quarter. Mount Lucas Management LP now owns 7,327 shares of the company’s stock worth $382,000 after buying an additional 173 shares during the last quarter. Mathes Company Inc. boosted its holdings in shares of GXO Logistics by 0.7% in the third quarter. Mathes Company Inc. now owns 25,475 shares of the company’s stock worth $1,326,000 after buying an additional 175 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of GXO Logistics by 7.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,064 shares of the company’s stock worth $160,000 after buying an additional 220 shares during the last quarter. CWM LLC boosted its holdings in shares of GXO Logistics by 13.8% in the third quarter. CWM LLC now owns 1,961 shares of the company’s stock worth $102,000 after buying an additional 238 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of GXO Logistics by 37.2% in the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GXO. The Goldman Sachs Group dropped their price objective on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday. TD Cowen raised their price objective 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. UBS Group raised their price objective 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. Susquehanna decreased their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, Barclays decreased 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, December 4th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.38.

GXO Logistics Trading Down 0.9 %

GXO Logistics stock opened at $43.98 on Friday. The stock has a market cap of $5.25 billion, a P/E ratio of 48.86, a PEG ratio of 1.10 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 $41.38 and a 1 year high of $63.33. The firm’s 50 day moving average price is $50.21 and its 200-day moving average price is $52.03.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. The firm 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 company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, equities analysts predict that GXO Logistics, Inc. will post 2.74 earnings per share for the current fiscal year.

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.