Envestnet Asset Management Inc. Sells 78,393 Shares of GXO Logistics, Inc. (NYSE:GXO)

Envestnet Asset Management Inc. lessened its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 61.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,702 shares of the company's stock after selling 78,393 shares during the period. Envestnet Asset Management Inc.'s holdings in GXO Logistics were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of GXO Logistics by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company's stock valued at $492,977,000 after purchasing an additional 212,254 shares during the period. Clearbridge Investments LLC raised its stake in GXO Logistics by 3.8% during the 4th quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company's stock worth $183,924,000 after buying an additional 153,522 shares during the period. Swedbank AB raised its stake in GXO Logistics by 13.9% during the 4th quarter. Swedbank AB now owns 2,050,000 shares of the company's stock worth $89,175,000 after buying an additional 250,000 shares during the period. River Road Asset Management LLC raised its stake in GXO Logistics by 53.5% during the 4th quarter. River Road Asset Management LLC now owns 2,008,168 shares of the company's stock worth $87,355,000 after buying an additional 699,636 shares during the period. Finally, Norges Bank acquired a new position in GXO Logistics during the 4th quarter worth approximately $55,266,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Price Performance

GXO opened at $35.78 on Monday. The stock has a fifty day simple moving average of $37.53 and a two-hundred day simple moving average of $46.35. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. Research analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on GXO shares. Barclays lowered their price objective on GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus reissued a "buy" rating and set a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Morgan Stanley dropped their target price on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on GXO Logistics in a research report on Friday, March 7th. They set a "hold" rating and a $45.00 target price on the stock. Finally, Oppenheimer dropped their price target 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, GXO Logistics has a consensus rating of "Moderate Buy" and an average price target of $54.57.

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.

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