GXO Logistics, Inc. (NYSE:GXO) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. raised its position in GXO Logistics, Inc. (NYSE:GXO) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,295 shares of the company’s stock after buying an additional 1,637 shares during the period. Raymond James Trust N.A.’s holdings in GXO Logistics were worth $974,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of GXO Logistics during the fourth quarter worth approximately $554,000. CWM LLC boosted its position in GXO Logistics by 28.1% during the fourth quarter. CWM LLC now owns 1,778 shares of the company’s stock worth $109,000 after acquiring an additional 390 shares during the last quarter. New York State Common Retirement Fund raised its holdings in GXO Logistics by 1.2% in the 4th quarter. New York State Common Retirement Fund now owns 253,015 shares of the company’s stock valued at $15,474,000 after acquiring an additional 2,969 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of GXO Logistics during the 4th quarter worth approximately $59,000. Finally, Van ECK Associates Corp grew its position in shares of GXO Logistics by 33.1% in the fourth quarter. Van ECK Associates Corp now owns 5,119 shares of the company’s stock valued at $313,000 after purchasing an additional 1,274 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GXO has been the subject of several analyst reports. TD Cowen upped their target price on GXO Logistics from $80.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price objective on shares of GXO Logistics in a report on Wednesday, May 15th. Wells Fargo & Company began coverage on shares of GXO Logistics in a research report on Friday, June 7th. They set an “overweight” rating and a $58.00 price target for the company. UBS Group decreased their price objective on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $70.00 target price on shares of GXO Logistics in a report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and an average price target of $67.45.

Insider Buying and Selling

In other GXO Logistics news, CEO Malcolm Wilson acquired 10,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the purchase, the chief executive officer now owns 100,814 shares in the company, valued at approximately $5,035,659.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is owned by company insiders.

GXO Logistics Stock Performance

GXO traded up $0.28 on Monday, reaching $50.30. The company had a trading volume of 24,922 shares, compared to its average volume of 847,317. The stock has a 50-day moving average price of $50.41 and a 200-day moving average price of $50.98. The stock has a market capitalization of $6.01 billion, a PE ratio of 35.99, a P/E/G ratio of 1.63 and a beta of 1.60. GXO Logistics, Inc. has a 1 year low of $46.07 and a 1 year high of $65.48. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.52.

GXO Logistics (NYSE:GXO) last announced its earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. As a group, research analysts forecast that GXO Logistics, Inc. will post 2.78 EPS for the current fiscal 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, 2023, it operated in approximately 974 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.