BlackRock Inc. Has $373.58 Million Position in GXO Logistics, Inc. (NYSE:GXO)

BlackRock Inc. grew its holdings in shares of GXO Logistics, Inc. (NYSE:GXO – Get Rating) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,655,357 shares of the company’s stock after acquiring an additional 254,581 shares during the period. BlackRock Inc. owned 8.98% of GXO Logistics worth $373,578,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wipfli Financial Advisors LLC acquired a new position in shares of GXO Logistics during the third quarter worth approximately $30,000. HBK Sorce Advisory LLC acquired a new position in shares of GXO Logistics during the third quarter worth approximately $31,000. Fifth Third Bancorp raised its position 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 during the period. CWM LLC raised its position 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 during the period. Finally, Ellevest Inc. raised its position in shares of GXO Logistics by 53.2% during the third quarter. Ellevest Inc. now owns 1,066 shares of the company’s stock worth $37,000 after purchasing an additional 370 shares during the period. 99.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GXO Logistics

In related news, Director Gena L. Ashe sold 2,120 shares of GXO Logistics stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. 11.10% of the stock is owned by company insiders.

GXO Logistics Price Performance

Shares of GXO Logistics stock opened at $48.40 on Friday. The company’s fifty day simple moving average is $50.57 and its two-hundred day simple moving average is $44.26. GXO Logistics, Inc. has a 12-month low of $32.10 and a 12-month high of $79.54. The firm has a market cap of $5.75 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.74 and a beta of 1.70. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.65.

GXO Logistics (NYSE:GXO – Get Rating) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. GXO Logistics had a net margin of 2.19% and a return on equity of 13.12%. As a group, equities analysts expect that GXO Logistics, Inc. will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Susquehanna Bancshares lowered their target price on GXO Logistics from $55.00 to $54.00 in a research report on Thursday, November 10th. Wells Fargo & Company cut their target price on GXO Logistics from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, February 16th. Loop Capital raised their price target on GXO Logistics from $67.00 to $74.00 in a report on Friday, January 13th. Susquehanna raised their price target on GXO Logistics from $53.00 to $62.00 and gave the company a “positive” rating in a report on Thursday, January 19th. Finally, Morgan Stanley raised their price target on GXO Logistics from $60.00 to $66.00 in a report on Friday, January 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, GXO Logistics currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.44.

GXO Logistics Company Profile

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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.