Perpetual Ltd Cuts Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Perpetual Ltd trimmed its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,143,541 shares of the company's stock after selling 101,371 shares during the period. GXO Logistics accounts for 1.6% of Perpetual Ltd's portfolio, making the stock its 19th largest holding. Perpetual Ltd owned approximately 2.63% of GXO Logistics worth $136,744,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its stake in GXO Logistics by 1.9% during the third quarter. State Street Corp now owns 3,631,328 shares of the company's stock valued at $189,083,000 after acquiring an additional 66,232 shares in the last quarter. Fort Pitt Capital Group LLC grew its stake in GXO Logistics by 2.1% during the third quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company's stock valued at $128,499,000 after acquiring an additional 51,208 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in GXO Logistics by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company's stock valued at $121,140,000 after purchasing an additional 240,766 shares during the last quarter. Geode Capital Management LLC lifted its position in GXO Logistics by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company's stock valued at $103,279,000 after purchasing an additional 29,992 shares during the last quarter. Finally, Eminence Capital LP bought a new position in GXO Logistics during the second quarter valued at $79,698,000. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Trading Up 2.9 %

GXO stock traded up $1.28 during trading on Tuesday, hitting $45.23. The company had a trading volume of 1,245,394 shares, compared to its average volume of 1,261,513. The firm has a market capitalization of $5.40 billion, a P/E ratio of 50.25, a PEG ratio of 1.17 and a beta of 1.60. GXO Logistics, Inc. has a 52-week low of $41.38 and a 52-week high of $63.33. The company has a 50 day simple moving average of $49.59 and a 200-day simple moving average of $52.01. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The firm's revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. As a group, research analysts forecast that GXO Logistics, Inc. will post 2.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on GXO. TD Cowen increased their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. UBS Group increased their price objective on shares of GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on shares of GXO Logistics from $63.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Oppenheimer increased their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Finally, Citigroup began coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a "buy" rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, GXO Logistics presently has a consensus rating of "Moderate Buy" and an average price target of $65.38.

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.