DnB Asset Management AS Buys 19,939 Shares of GXO Logistics, Inc. (NYSE:GXO)

DnB Asset Management AS lifted its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 221.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,957 shares of the company’s stock after acquiring an additional 19,939 shares during the quarter. DnB Asset Management AS’s holdings in GXO Logistics were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stifel Financial Corp raised its holdings in GXO Logistics by 95.8% during the 3rd quarter. Stifel Financial Corp now owns 76,045 shares of the company’s stock worth $3,960,000 after purchasing an additional 37,197 shares during the last quarter. Douglas Lane & Associates LLC raised its stake in GXO Logistics by 6.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 480,553 shares of the company’s stock worth $20,904,000 after buying an additional 31,015 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 buying an additional 12,208 shares during the last quarter. Tidal Investments LLC acquired a new position in GXO Logistics in the third quarter valued at $667,000. Finally, Barclays PLC boosted its position in GXO Logistics by 28.9% during the third quarter. Barclays PLC now owns 62,545 shares of the company’s stock valued at $3,256,000 after acquiring an additional 14,020 shares during the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Loop Capital downgraded GXO Logistics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. Morgan Stanley cut their price target on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. UBS Group reduced their price objective on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research note on Friday, March 7th. They set a “hold” rating and a $45.00 target price on the stock. Finally, Oppenheimer decreased their price target on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

GXO Logistics Trading Up 0.8 %

Shares of GXO Logistics stock opened at $39.39 on Wednesday. The company has a market capitalization of $4.71 billion, a P/E ratio of 35.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. The stock has a fifty day simple moving average of $41.10 and a 200 day simple moving average of $48.68. GXO Logistics, Inc. has a 12-month low of $34.51 and a 12-month high of $63.33. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. On average, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

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.