Fort Pitt Capital Group LLC Increases Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Fort Pitt Capital Group LLC raised its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,467,814 shares of the company's stock after purchasing an additional 51,208 shares during the quarter. GXO Logistics accounts for approximately 3.6% of Fort Pitt Capital Group LLC's portfolio, making the stock its 11th largest position. Fort Pitt Capital Group LLC owned about 2.07% of GXO Logistics worth $128,499,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of GXO Logistics in the third quarter valued at $28,000. UMB Bank n.a. boosted its holdings in GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company's stock valued at $33,000 after acquiring an additional 331 shares during the period. Signaturefd LLC grew its position in GXO Logistics by 37.2% in the 3rd 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. Whittier Trust Co. of Nevada Inc. increased its stake in GXO Logistics by 37.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company's stock worth $54,000 after purchasing an additional 282 shares during the period. Finally, Mather Group LLC. lifted its position in shares of GXO Logistics by 170.7% during the second quarter. Mather Group LLC. now owns 1,110 shares of the company's stock worth $60,000 after purchasing an additional 700 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Stock Down 2.1 %

GXO Logistics stock traded down $1.23 during midday trading on Friday, reaching $58.58. The company's stock had a trading volume of 1,580,695 shares, compared to its average volume of 1,783,454. The company has a market cap of $7.00 billion, a P/E ratio of 50.07, a P/E/G ratio of 1.79 and a beta of 1.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $53.95 and a 200-day simple moving average of $51.70. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.73 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. GXO Logistics's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. On average, research analysts expect that GXO Logistics, Inc. will post 2.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on GXO shares. Citigroup started coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They issued a "buy" rating and a $60.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on GXO Logistics from $61.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 9th. UBS Group reduced their price objective on GXO Logistics from $71.00 to $66.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, Susquehanna lowered their target price on GXO Logistics from $75.00 to $73.00 and set a "positive" rating for the company in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.91.

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.