WASHINGTON TRUST Co Has $5.99 Million Stake in GXO Logistics, Inc. (NYSE:GXO)

WASHINGTON TRUST Co trimmed its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,686 shares of the company's stock after selling 50,527 shares during the period. WASHINGTON TRUST Co owned 0.12% of GXO Logistics worth $5,989,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new stake in GXO Logistics during the 3rd quarter worth $28,000. Signaturefd LLC boosted its position in shares of GXO Logistics by 37.2% in the 3rd quarter. Signaturefd LLC now owns 918 shares of the company's stock worth $48,000 after purchasing an additional 249 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of GXO Logistics during the third quarter worth $50,000. Whittier Trust Co. of Nevada Inc. increased its holdings in GXO Logistics by 37.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company's stock valued at $54,000 after purchasing an additional 282 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of GXO Logistics in the 4th quarter valued at approximately $54,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Stock Down 1.6 %

Shares of NYSE GXO traded down $0.67 during midday trading on Wednesday, reaching $40.51. The company's stock had a trading volume of 2,326,308 shares, compared to its average volume of 1,586,168. The stock has a 50 day simple moving average of $43.85 and a 200-day simple moving average of $50.54. 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 stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 1.30 and a beta of 1.60. GXO Logistics, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) 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%. Equities research analysts predict that GXO Logistics, Inc. will post 2.52 earnings per share for the current year.

Wall Street Analyst Weigh In

GXO has been the topic of several analyst reports. Oppenheimer cut their target price on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday. Morgan Stanley lowered their price objective on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Wells Fargo & Company reduced their target price on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Stifel Nicolaus restated a "buy" rating and issued a $66.00 price target (down from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Finally, TD Cowen raised their price target on GXO Logistics from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.62.

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.