Douglas Lane & Associates LLC Acquires 8,224 Shares of GXO Logistics, Inc. (NYSE:GXO)

Douglas Lane & Associates LLC lifted its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 463,342 shares of the company’s stock after purchasing an additional 8,224 shares during the period. Douglas Lane & Associates LLC owned 0.39% of GXO Logistics worth $24,909,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in GXO Logistics in the fourth quarter worth about $65,002,000. Handelsbanken Fonder AB grew its stake in GXO Logistics by 3,033.0% during the fourth quarter. Handelsbanken Fonder AB now owns 570,200 shares of the company’s stock valued at $34,873,000 after acquiring an additional 552,000 shares in the last quarter. Invesco Ltd. grew its stake in GXO Logistics by 22.6% during the third quarter. Invesco Ltd. now owns 1,466,267 shares of the company’s stock valued at $85,997,000 after acquiring an additional 270,524 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in GXO Logistics during the fourth quarter valued at approximately $8,193,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in GXO Logistics by 91.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 243,563 shares of the company’s stock valued at $14,896,000 after acquiring an additional 116,447 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Insider Transactions at GXO Logistics

In other GXO Logistics news, CEO Malcolm Wilson bought 10,000 shares of GXO Logistics stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average cost of $49.95 per share, with a total value of $499,500.00. Following the transaction, the chief executive officer now directly owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GXO shares. Wells Fargo & Company started coverage on shares of GXO Logistics in a research note on Friday, June 7th. They set an “overweight” rating and a $58.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 target price on shares of GXO Logistics in a research report on Wednesday, May 15th. BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their target price on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Finally, TD Cowen lifted their target price on shares of GXO Logistics from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.85.

GXO Logistics Trading Up 0.2 %

NYSE:GXO opened at $47.85 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $50.25 and a 200 day moving average of $53.40. The firm has a market capitalization of $5.71 billion, a P/E ratio of 34.42, a P/E/G ratio of 1.43 and a beta of 1.61. GXO Logistics, Inc. has a 52 week low of $46.38 and a 52 week high of $67.57.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. On average, research analysts predict that GXO Logistics, Inc. will post 2.77 earnings per share for the current year.

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.