PNC Financial Services Group Inc. Has $844,000 Stock Position in GXO Logistics, Inc. (NYSE:GXO)

PNC Financial Services Group Inc. reduced its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 34.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,391 shares of the company's stock after selling 10,361 shares during the period. PNC Financial Services Group Inc.'s holdings in GXO Logistics were worth $844,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GXO. State Street Corp increased its position in GXO Logistics by 1.9% during the 3rd quarter. State Street Corp now owns 3,631,328 shares of the company's stock worth $189,083,000 after buying an additional 66,232 shares during the period. Swedbank AB raised its stake in GXO Logistics by 13.9% in 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. Geode Capital Management LLC boosted its holdings in GXO Logistics by 1.5% in the 3rd 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 period. Charles Schwab Investment Management Inc. grew its position in shares of GXO Logistics by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,197,898 shares of the company's stock worth $62,375,000 after purchasing an additional 17,953 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in GXO Logistics during the 4th quarter worth $47,626,000. 90.67% of the stock is owned by institutional investors.

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GXO Logistics Trading Down 0.7 %

GXO stock traded down $0.31 during mid-day trading on Friday, reaching $40.39. The company's stock had a trading volume of 1,926,331 shares, compared to its average volume of 1,149,369. GXO Logistics, Inc. has a 12 month low of $34.51 and a 12 month high of $63.33. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The business's 50 day moving average price is $41.75 and its 200 day moving average price is $49.19. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO - Get Free Report) last posted 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%. On average, equities research analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Analyst Upgrades and Downgrades

GXO has been the topic of several recent analyst reports. UBS Group decreased their target price on shares of GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Barclays decreased their target price on GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Loop Capital downgraded shares of GXO Logistics from a "buy" rating to a "hold" rating and lowered their price target for the stock from $71.00 to $49.00 in a report on Monday, February 3rd. Oppenheimer lowered their target price on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group reduced their price target on GXO Logistics from $63.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, GXO Logistics currently has an average rating of "Moderate Buy" and a consensus target price of $55.60.

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.