Ethic Inc. Lowers Position in GXO Logistics, Inc. (NYSE:GXO)

Ethic Inc. decreased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,957 shares of the company’s stock after selling 5,691 shares during the period. Ethic Inc.’s holdings in GXO Logistics were worth $694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GXO. Vanguard Group Inc. boosted its position in shares of GXO Logistics by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company’s stock valued at $492,977,000 after acquiring an additional 212,254 shares during the last quarter. Clearbridge Investments LLC raised its stake in GXO Logistics by 3.8% in the fourth quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company’s stock valued at $183,924,000 after purchasing an additional 153,522 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in GXO Logistics by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,798,170 shares of the company’s stock valued at $121,718,000 after purchasing an additional 50,682 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in GXO Logistics by 28,112.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company’s stock worth $114,036,000 after buying an additional 2,612,223 shares in the last quarter. Finally, Swedbank AB grew 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 buying an additional 250,000 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Trading Up 1.0%

NYSE:GXO opened at $40.95 on Thursday. The firm has a market capitalization of $4.79 billion, a P/E ratio of 36.56, a P/E/G ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The company has a fifty day moving average of $37.26 and a 200 day moving average of $44.43.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.94 billion. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, research analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

GXO has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Loop Capital cut GXO Logistics from a “buy” rating to a “hold” rating and reduced their target price for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. Truist Financial dropped their price target on GXO Logistics from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. Citigroup cut their price objective on GXO Logistics from $51.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price objective on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.57.

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.