DnB Asset Management AS Increases Stock Position in GXO Logistics, Inc. (NYSE:GXO)

DnB Asset Management AS boosted its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 221.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,957 shares of the company's stock after purchasing an additional 19,939 shares during the quarter. DnB Asset Management AS's holdings in GXO Logistics were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of GXO. Norges Bank bought a new position in shares of GXO Logistics in the 4th quarter worth $55,266,000. Vaughan Nelson Investment Management L.P. bought a new position in GXO Logistics in the fourth quarter valued at $47,626,000. River Road Asset Management LLC raised its position in GXO Logistics by 53.5% during the fourth quarter. River Road Asset Management LLC now owns 2,008,168 shares of the company's stock valued at $87,355,000 after purchasing an additional 699,636 shares in the last quarter. Raymond James Financial Inc. bought a new stake in GXO Logistics during the fourth quarter worth about $20,905,000. Finally, Life Planning Partners Inc boosted its holdings in shares of GXO Logistics by 4,250.0% in the 4th quarter. Life Planning Partners Inc now owns 263,393 shares of the company's stock worth $11,458,000 after purchasing an additional 257,338 shares in the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Trading Down 5.7 %

GXO stock traded down $2.07 during trading on Friday, reaching $34.23. The company had a trading volume of 2,443,356 shares, compared to its average volume of 1,189,435. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. GXO Logistics, Inc. has a 52 week low of $32.70 and a 52 week high of $63.33. The business has a 50 day moving average of $40.61 and a 200 day moving average of $48.37. The company has a market cap of $4.09 billion, a P/E ratio of 30.57, a PEG ratio of 1.34 and a beta of 1.56.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, beating 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, sell-side analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on GXO Logistics in a report on Friday, March 7th. They set a "hold" rating and a $45.00 price objective on the stock. Stifel Nicolaus restated a "buy" rating and issued a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Morgan Stanley reduced their target price on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Loop Capital downgraded shares of GXO Logistics from a "buy" rating to a "hold" rating and lowered their price target for the stock from $71.00 to $49.00 in a research note on Monday, February 3rd. Finally, Truist Financial started coverage on GXO Logistics in a research note on Thursday, March 13th. They set a "hold" rating and a $40.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, GXO Logistics presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

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.