Lazard Asset Management LLC Lowers Stake in GXO Logistics, Inc. (NYSE:GXO)

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

In other GXO Logistics news, Director Gena L. Ashe sold 2,120 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $52.73, for a total transaction of $111,787.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.10% of the stock is owned by company insiders.

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

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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.