Principal Financial Group Inc. Sells 121,156 Shares of GXO Logistics, Inc. (NYSE:GXO)

Principal Financial Group Inc. cut its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 30.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 276,408 shares of the company's stock after selling 121,156 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of GXO Logistics worth $14,393,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of GXO Logistics during the 3rd quarter worth $28,000. UMB Bank n.a. boosted its stake in GXO Logistics by 111.4% in the third 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 last quarter. Signaturefd LLC grew its position in shares of GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company's stock valued at $48,000 after acquiring an additional 249 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of GXO Logistics by 37.6% during the 3rd 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 last quarter. Finally, Mather Group LLC. raised its holdings in shares of GXO Logistics by 170.7% in the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company's stock worth $60,000 after purchasing an additional 700 shares during the period. 90.67% of the stock is owned by institutional investors.

GXO Logistics Price Performance

NYSE GXO traded down $1.10 on Friday, hitting $58.65. The stock had a trading volume of 1,078,509 shares, compared to its average volume of 1,294,385. GXO Logistics, Inc. has a 52-week low of $46.07 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 65.17, a price-to-earnings-growth ratio of 1.76 and a beta of 1.55. The firm has a 50-day moving average of $56.06 and a 200-day moving average of $52.39.

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 analysts' consensus estimates of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Equities analysts expect that GXO Logistics, Inc. will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GXO shares. UBS Group raised their target price on GXO Logistics from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a "buy" rating and a $60.00 price objective for the company. TD Cowen upped their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Barclays lifted their target price on shares of GXO Logistics from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Susquehanna dropped their price target on shares of GXO Logistics from $75.00 to $73.00 and set a "positive" rating on the stock in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, GXO Logistics presently has an average rating of "Moderate Buy" and an average target price of $67.00.

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.