Douglas Lane & Associates LLC Acquires 31,015 Shares of GXO Logistics, Inc. (NYSE:GXO)

Douglas Lane & Associates LLC grew its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 480,553 shares of the company's stock after acquiring an additional 31,015 shares during the period. Douglas Lane & Associates LLC owned about 0.40% of GXO Logistics worth $20,904,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new position in GXO Logistics during the 3rd quarter valued at about $28,000. UMB Bank n.a. increased its stake in shares of GXO Logistics by 111.4% during the third quarter. UMB Bank n.a. now owns 628 shares of the company's stock valued at $33,000 after buying an additional 331 shares during the period. Signaturefd LLC raised its holdings in shares of GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company's stock valued at $48,000 after acquiring an additional 249 shares in the last quarter. Hara Capital LLC bought a new position in shares of GXO Logistics during the third quarter valued at approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in GXO Logistics by 37.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company's stock worth $54,000 after acquiring an additional 282 shares during the period. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays reduced their price target on shares of GXO Logistics from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 4th. Citigroup began coverage on GXO Logistics in a research note on Wednesday, October 9th. They issued a "buy" rating and a $60.00 price target on the stock. UBS Group raised their price objective on GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Susquehanna dropped their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a "positive" rating on the stock in a research note on Thursday, September 26th. Finally, TD Cowen raised their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.33.

GXO Logistics Stock Performance

Shares of GXO traded down $0.79 during mid-day trading on Wednesday, hitting $44.75. 1,696,284 shares of the company traded hands, compared to its average volume of 1,319,497. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 49.72, a P/E/G ratio of 1.47 and a beta of 1.60. The stock has a 50-day moving average price of $52.39 and a two-hundred day moving average price of $52.32. GXO Logistics, Inc. has a 1 year low of $41.38 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The company's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. Equities analysts anticipate that GXO Logistics, Inc. will post 2.76 earnings per share for the current year.

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.