Comerica Bank Increases Stake in GXO Logistics, Inc. (NYSE:GXO)

Comerica Bank increased its position in shares of GXO Logistics, Inc. (NYSE:GXOGet Rating) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,725 shares of the company’s stock after buying an additional 6,597 shares during the period. Comerica Bank’s holdings in GXO Logistics were worth $1,784,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GXO. Geneos Wealth Management Inc. purchased a new position in GXO Logistics in the first quarter worth approximately $39,000. Ellevest Inc. lifted its stake in GXO Logistics by 337.7% in the second quarter. Ellevest Inc. now owns 696 shares of the company’s stock worth $30,000 after acquiring an additional 537 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in GXO Logistics in the third quarter worth approximately $30,000. Fifth Third Bancorp grew its stake in shares of GXO Logistics by 93.6% during the third quarter. Fifth Third Bancorp now owns 904 shares of the company’s stock worth $32,000 after purchasing an additional 437 shares in the last quarter. Finally, CWM LLC grew its stake in shares of GXO Logistics by 88.7% during the third quarter. CWM LLC now owns 955 shares of the company’s stock worth $33,000 after purchasing an additional 449 shares in the last quarter. 99.47% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Stock Up 2.0 %

GXO Logistics stock opened at $53.26 on Friday. GXO Logistics, Inc. has a twelve month low of $32.10 and a twelve month high of $88.34. The stock has a 50 day moving average of $45.20 and a two-hundred day moving average of $42.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.86 and a beta of 1.54.

GXO Logistics (NYSE:GXOGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. GXO Logistics had a return on equity of 12.90% and a net margin of 2.36%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.29 billion. As a group, research analysts expect that GXO Logistics, Inc. will post 2.76 earnings per share for the current year.

Insider Transactions at GXO Logistics

In related news, Director Gena L. Ashe sold 2,120 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $52.73, for a total value of $111,787.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GXO Logistics news, CEO Malcolm Wilson bought 4,174 shares of GXO Logistics stock in a transaction on Friday, November 25th. The stock was bought at an average price of $43.97 per share, with a total value of $183,530.78. Following the completion of the acquisition, the chief executive officer now owns 45,509 shares in the company, valued at $2,001,030.73. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gena L. Ashe sold 2,120 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $52.73, for a total value of $111,787.60. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GXO shares. Susquehanna Bancshares lowered their price objective on GXO Logistics from $55.00 to $54.00 in a research report on Thursday, November 10th. Credit Suisse Group upped their price target on GXO Logistics from $57.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Cowen lowered their price target on GXO Logistics from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Tuesday, September 27th. Cowen lowered their target price on shares of GXO Logistics from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Tuesday, September 27th. Finally, Barclays upped their target price on shares of GXO Logistics from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, January 11th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.00.

About GXO Logistics

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GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.

Further Reading

Institutional Ownership by Quarter for GXO Logistics (NYSE:GXO)

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