Envestnet Asset Management Inc. Boosts Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Envestnet Asset Management Inc. raised its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 23.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,883 shares of the company’s stock after buying an additional 11,181 shares during the period. Envestnet Asset Management Inc. owned about 0.05% of GXO Logistics worth $2,340,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new position in shares of GXO Logistics during the fourth quarter valued at about $1,061,000. LPL Financial LLC raised its stake in shares of GXO Logistics by 59.6% during the fourth quarter. LPL Financial LLC now owns 58,454 shares of the company’s stock valued at $2,551,000 after acquiring an additional 21,824 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of GXO Logistics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company’s stock valued at $492,977,000 after acquiring an additional 212,254 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of GXO Logistics by 202.0% during the fourth quarter. Prudential Financial Inc. now owns 29,682 shares of the company’s stock valued at $1,291,000 after acquiring an additional 19,854 shares during the last quarter. Finally, Norges Bank bought a new position in GXO Logistics in the fourth quarter worth about $55,266,000. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

NYSE GXO opened at $52.29 on Tuesday. The stock has a market cap of $5.98 billion, a PE ratio of 84.34, a P/E/G ratio of 1.92 and a beta of 1.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33. The stock has a fifty day simple moving average of $46.49 and a 200-day simple moving average of $41.97.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.94 billion. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. Equities analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GXO shares. Citigroup increased their price target on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Susquehanna reissued a “positive” rating and issued a $58.00 price target (up from $57.00) on shares of GXO Logistics in a research note on Tuesday, June 24th. Barclays increased their price target on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Truist Financial raised shares of GXO Logistics from a “hold” rating to a “buy” rating and increased their price target for the stock from $48.00 to $62.00 in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GXO Logistics from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and an average price target of $57.43.

GXO Logistics Company Profile

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.