GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 30.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,408 shares of the company's stock after selling 121,156 shares during the period. Principal Financial Group Inc. owned about 0.23% of GXO Logistics worth $14,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Eminence Capital LP acquired a new stake in GXO Logistics in the second quarter valued at approximately $79,698,000. Spruce House Investment Management LLC raised its holdings in shares of GXO Logistics by 827.8% in the 2nd quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company's stock valued at $45,450,000 after purchasing an additional 803,000 shares in the last quarter. American Century Companies Inc. lifted its position in shares of GXO Logistics by 25.2% during the 2nd quarter. American Century Companies Inc. now owns 3,221,818 shares of the company's stock worth $162,702,000 after purchasing an additional 648,547 shares during the last quarter. Global Alpha Capital Management Ltd. acquired a new position in shares of GXO Logistics during the third quarter worth $32,434,000. Finally, Brown Brothers Harriman & Co. increased its holdings in GXO Logistics by 105.0% in the third quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company's stock valued at $50,418,000 after buying an additional 495,829 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GXO. Susquehanna lowered their price objective on GXO Logistics from $75.00 to $73.00 and set a "positive" rating for the company in a research report on Thursday, September 26th. UBS Group upped their price target on GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Citigroup began coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They set a "buy" rating and a $60.00 price objective on the stock. Barclays lowered their target price on shares of GXO Logistics from $60.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, December 4th. Finally, Oppenheimer lifted their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.33.

GXO Logistics Price Performance

GXO remained flat at $42.80 on Friday. The company's stock had a trading volume of 1,377,093 shares, compared to its average volume of 1,000,544. GXO Logistics, Inc. has a 12-month low of $41.38 and a 12-month high of $63.33. The stock's 50-day moving average is $55.16 and its 200 day moving average is $52.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $5.11 billion, a PE ratio of 47.56, a PEG ratio of 1.49 and a beta of 1.52.

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