Lazard Asset Management LLC lessened its holdings in GXO Logistics, Inc. (NYSE:GXO – Get Rating) by 74.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,288 shares of the company’s stock after selling 3,712 shares during the period. Lazard Asset Management LLC’s holdings in GXO Logistics were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of GXO. Pendal Group Ltd increased its holdings in GXO Logistics by 87.9% in the 3rd quarter. Pendal Group Ltd now owns 6,105,398 shares of the company’s stock worth $214,055,000 after acquiring an additional 2,856,645 shares in the last quarter. State Street Corp raised its position in shares of GXO Logistics by 2.7% during the 2nd quarter. State Street Corp now owns 2,965,156 shares of the company’s stock worth $128,302,000 after purchasing an additional 78,212 shares during the last quarter. Mar Vista Investment Partners LLC lifted its stake in GXO Logistics by 32.9% in the 2nd quarter. Mar Vista Investment Partners LLC now owns 1,323,898 shares of the company’s stock valued at $57,285,000 after buying an additional 327,447 shares in the last quarter. Invesco Ltd. boosted its holdings in GXO Logistics by 0.6% in the 1st quarter. Invesco Ltd. now owns 1,106,440 shares of the company’s stock worth $78,934,000 after buying an additional 6,851 shares during the last quarter. Finally, Fort Pitt Capital Group LLC increased its position in shares of GXO Logistics by 11.4% during the third quarter. Fort Pitt Capital Group LLC now owns 1,004,252 shares of the company’s stock worth $35,209,000 after purchasing an additional 102,717 shares in the last quarter. Hedge funds and other institutional investors own 99.47% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on GXO shares. Oppenheimer lifted their target price on shares of GXO Logistics from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. The Goldman Sachs Group lifted their price objective on GXO Logistics from $52.00 to $55.00 in a research report on Wednesday, February 15th. Morgan Stanley upped their target price on GXO Logistics from $60.00 to $66.00 in a report on Friday, January 13th. Deutsche Bank Aktiengesellschaft lifted their price target on GXO Logistics from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, January 13th. Finally, Jefferies Financial Group raised their price objective on shares of GXO Logistics from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.44.
Insiders Place Their Bets
GXO Logistics Price Performance
GXO stock opened at $50.77 on Thursday. The business’s fifty day moving average price is $50.47 and its 200 day moving average price is $44.23. GXO Logistics, Inc. has a 12-month low of $32.10 and a 12-month high of $79.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $6.03 billion, a PE ratio of 30.22, a P/E/G ratio of 1.77 and a beta of 1.70.
GXO Logistics (NYSE:GXO – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. GXO Logistics had a net margin of 2.19% and a return on equity of 13.12%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. On average, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.4 EPS for the current 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, 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.
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