Concorde Asset Management LLC Buys New Stake in GXO Logistics, Inc. (NYSE:GXO)

Concorde Asset Management LLC purchased a new stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 16,598 shares of the company's stock, valued at approximately $722,000.

Several other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new stake in GXO Logistics in the 4th quarter valued at about $41,000. Summit Securities Group LLC boosted its stake in GXO Logistics by 870.9% during the fourth quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock worth $44,000 after buying an additional 897 shares during the last quarter. R Squared Ltd purchased a new stake in GXO Logistics in the 4th quarter valued at $54,000. Nomura Asset Management Co. Ltd. increased its stake in shares of GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company's stock worth $60,000 after acquiring an additional 290 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of GXO Logistics by 213.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company's stock worth $60,000 after acquiring an additional 933 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Stock Down 1.7 %

GXO stock traded down $0.58 during midday trading on Wednesday, hitting $33.29. The company's stock had a trading volume of 467,464 shares, compared to its average volume of 1,643,180. The firm has a 50-day simple moving average of $38.58 and a 200-day simple moving average of $47.30. The firm has a market capitalization of $3.98 billion, a P/E ratio of 29.72, a PEG ratio of 1.34 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. As a group, equities analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GXO. Morgan Stanley dropped their price objective on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a "hold" rating and a $45.00 price target on the stock. Oppenheimer lowered their price objective on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, February 18th. Barclays reduced their target price on GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group lowered their price target on GXO Logistics from $63.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, GXO Logistics currently has an average rating of "Moderate Buy" and a consensus price target of $54.93.

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.