Raymond James Financial Inc. Takes $20.91 Million Position in GXO Logistics, Inc. (NYSE:GXO)

Raymond James Financial Inc. bought a new stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 480,571 shares of the company's stock, valued at approximately $20,905,000. Raymond James Financial Inc. owned 0.40% of GXO Logistics as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. R Squared Ltd bought a new position in shares of GXO Logistics during the 4th quarter valued at $54,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of GXO Logistics by 33.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company's stock valued at $60,000 after purchasing an additional 290 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of GXO Logistics by 213.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company's stock valued at $60,000 after purchasing an additional 933 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of GXO Logistics during the 3rd quarter valued at $71,000. Finally, Brooklyn Investment Group bought a new position in shares of GXO Logistics during the 3rd quarter valued at $106,000. Institutional investors and hedge funds own 90.67% of the company's stock.

GXO Logistics Stock Performance

Shares of NYSE:GXO traded down $0.13 on Thursday, hitting $40.72. 1,133,090 shares of the company were exchanged, compared to its average volume of 1,145,324. The company's 50 day moving average price is $41.84 and its two-hundred day moving average price is $49.25. GXO Logistics, Inc. has a one year low of $34.51 and a one year high of $63.33. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 1.34 and a beta of 1.62.

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GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Research analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GXO has been the topic of a number of recent research reports. Truist Financial started coverage on shares of GXO Logistics in a report on Thursday, March 13th. They set a "hold" rating and a $40.00 price target on the stock. UBS Group dropped 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. Deutsche Bank Aktiengesellschaft started coverage on shares of GXO Logistics in a report on Friday, March 7th. They issued a "hold" rating and a $45.00 target price on the stock. Loop Capital downgraded shares of GXO Logistics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $71.00 to $49.00 in a report on Monday, February 3rd. Finally, Barclays dropped their target price on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $55.60.

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.