Advisors Capital Management LLC Reduces Position in GXO Logistics, Inc. (NYSE:GXO)

Advisors Capital Management LLC reduced its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,091 shares of the company's stock after selling 7,421 shares during the period. Advisors Capital Management LLC owned about 0.09% of GXO Logistics worth $4,832,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on GXO shares. 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. UBS Group cut their price target on GXO Logistics from $72.00 to $50.00 and set a "buy" rating for the company in a report on Friday, February 14th. Truist Financial began coverage on GXO Logistics in a report on Thursday, March 13th. They issued a "hold" rating and a $40.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on GXO Logistics in a report on Friday, March 7th. They set a "hold" rating and a $45.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $54.93.

GXO Logistics Trading Up 1.7 %

NYSE GXO traded up $0.56 during trading on Friday, hitting $33.89. The stock had a trading volume of 932,897 shares, compared to its average volume of 1,228,595. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $4.05 billion, a PE ratio of 30.25, a PEG ratio of 1.34 and a beta of 1.56. The firm has a 50 day moving average price of $38.02 and a 200 day moving average price of $46.96. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33.

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

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.