Carnegie Investment Counsel Sells 60,011 Shares of GXO Logistics, Inc. $GXO

Carnegie Investment Counsel lowered its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 76.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,091 shares of the company’s stock after selling 60,011 shares during the period. Carnegie Investment Counsel’s holdings in GXO Logistics were worth $881,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Orbis Allan Gray Ltd grew its position in GXO Logistics by 6.5% during the first quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company’s stock worth $526,532,000 after buying an additional 818,353 shares in the last quarter. Vanguard Group Inc. increased its position in shares of GXO Logistics by 0.3% in the first quarter. Vanguard Group Inc. now owns 11,370,657 shares of the company’s stock worth $444,365,000 after purchasing an additional 37,852 shares during the period. Dimensional Fund Advisors LP increased its position in shares of GXO Logistics by 29.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company’s stock worth $141,021,000 after purchasing an additional 810,298 shares during the period. Kovitz Investment Group Partners LLC increased its position in shares of GXO Logistics by 27.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company’s stock worth $130,143,000 after purchasing an additional 708,661 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of GXO Logistics by 1,521.9% in the first quarter. Alliancebernstein L.P. now owns 2,511,289 shares of the company’s stock worth $98,141,000 after purchasing an additional 2,356,452 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GXO shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of GXO Logistics in a report on Saturday. JPMorgan Chase & Co. raised their target price on GXO Logistics from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Wells Fargo & Company raised their target price on GXO Logistics from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Truist Financial set a $65.00 target price on GXO Logistics in a report on Tuesday, October 14th. Finally, Oppenheimer raised their target price on GXO Logistics from $55.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus target price of $61.57.

GXO Logistics Trading Up 1.6%

NYSE GXO opened at $54.62 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $62.28. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 103.05, a price-to-earnings-growth ratio of 2.23 and a beta of 1.64. The business’s fifty day moving average is $52.69 and its 200 day moving average is $47.04.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business posted $0.55 EPS. GXO Logistics’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal 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.