LPL Financial LLC Buys 226 Shares of GXO Logistics, Inc. (NYSE:GXO)

LPL Financial LLC raised its stake in GXO Logistics, Inc. (NYSE:GXO) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,179 shares of the company’s stock after buying an additional 226 shares during the period. LPL Financial LLC’s holdings in GXO Logistics were worth $2,835,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System grew its position in shares of GXO Logistics by 3.8% in the 4th quarter. Arizona State Retirement System now owns 30,123 shares of the company’s stock valued at $1,286,000 after buying an additional 1,115 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of GXO Logistics by 9.2% in the 4th quarter. Russell Investments Group Ltd. now owns 435,610 shares of the company’s stock valued at $18,602,000 after buying an additional 36,835 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of GXO Logistics by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,114 shares of the company’s stock valued at $944,000 after buying an additional 550 shares during the last quarter. New Mexico Educational Retirement Board grew its position in shares of GXO Logistics by 16.2% in the 1st quarter. New Mexico Educational Retirement Board now owns 21,500 shares of the company’s stock valued at $1,085,000 after buying an additional 3,000 shares during the last quarter. Finally, Meridian Management Co. boosted its position in shares of GXO Logistics by 14.8% during the 1st quarter. Meridian Management Co. now owns 53,583 shares of the company’s stock valued at $2,704,000 after purchasing an additional 6,900 shares in the last quarter. Institutional investors own 90.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Credit Suisse Group restated an “outperform” rating and set a $81.00 target price on shares of GXO Logistics in a research report on Friday, August 11th. Morgan Stanley upped their target price on GXO Logistics from $66.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Oppenheimer restated an “outperform” rating and set a $76.00 target price on shares of GXO Logistics in a research report on Monday, August 7th. Wells Fargo & Company upped their target price on GXO Logistics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, Barclays upped their target price on GXO Logistics from $55.00 to $65.00 in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

GXO Logistics Stock Performance

GXO stock opened at $62.19 on Wednesday. The business has a 50 day moving average of $63.78 and a 200-day moving average of $56.97. GXO Logistics, Inc. has a 12-month low of $32.10 and a 12-month high of $67.57. The firm has a market cap of $7.40 billion, a PE ratio of 37.24, a P/E/G ratio of 2.09 and a beta of 1.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.58.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. GXO Logistics had a return on equity of 12.25% and a net margin of 2.10%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the company earned $0.68 earnings per share. GXO Logistics’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that GXO Logistics, Inc. will post 2.61 earnings per share 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, reverse logistics, and other supply chain services. As of December 31, 2022, it operated in approximately 979 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.