Legal & General Group Plc Sells 9,108 Shares of GXO Logistics, Inc. (NYSE:GXO)

Legal & General Group Plc trimmed its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 380,184 shares of the company's stock after selling 9,108 shares during the quarter. Legal & General Group Plc owned approximately 0.32% of GXO Logistics worth $16,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GXO. Vanguard Group Inc. boosted its holdings in shares of GXO Logistics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company's stock worth $492,977,000 after buying an additional 212,254 shares during the period. Clearbridge Investments LLC boosted its stake in GXO Logistics by 3.8% in the 4th quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company's stock worth $183,924,000 after purchasing an additional 153,522 shares during the period. Swedbank AB grew its position 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 purchasing an additional 250,000 shares in the last quarter. 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 valued at $87,355,000 after purchasing an additional 699,636 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of GXO Logistics by 1.5% in 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 in the last quarter. Institutional investors and hedge funds own 90.67% of the company's stock.

Wall Street Analysts Forecast Growth

GXO has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price target on GXO Logistics from $63.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus reissued a "buy" rating and issued a $66.00 price target (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Truist Financial started coverage on shares of GXO Logistics in a research report on Thursday, March 13th. They set a "hold" rating and a $40.00 price objective on the stock. Oppenheimer cut their target price on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, February 18th. Finally, UBS Group decreased their target price on shares of GXO Logistics from $72.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, GXO Logistics presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.93.

GXO Logistics Stock Performance

Shares of GXO Logistics stock traded up $0.56 during midday trading on Friday, hitting $33.89. The company had a trading volume of 932,897 shares, compared to its average volume of 1,228,595. 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 1-year low of $30.46 and a 1-year high of $63.33. The business's 50 day simple moving average is $38.02 and its two-hundred day simple moving average is $46.96. The stock has a market cap of $4.05 billion, a PE ratio of 30.25, a P/E/G ratio of 1.34 and a beta of 1.56.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping 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 analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

GXO Logistics 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.