Ballentine Partners LLC Reduces Position in GXO Logistics, Inc. (NYSE:GXO)

Ballentine Partners LLC decreased its holdings in GXO Logistics, Inc. (NYSE:GXO) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,441 shares of the company’s stock after selling 226 shares during the period. Ballentine Partners LLC’s holdings in GXO Logistics were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GXO. DekaBank Deutsche Girozentrale purchased a new position in GXO Logistics in the 3rd quarter valued at approximately $31,000. Headlands Technologies LLC purchased a new stake in GXO Logistics during the 4th quarter worth about $59,000. CWM LLC lifted its holdings in GXO Logistics by 28.1% during the 4th quarter. CWM LLC now owns 1,778 shares of the company’s stock worth $109,000 after purchasing an additional 390 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in GXO Logistics by 16.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $122,000 after buying an additional 287 shares in the last quarter. Finally, KBC Group NV purchased a new position in GXO Logistics during the 4th quarter valued at about $135,000. Institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

NYSE:GXO opened at $48.47 on Wednesday. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 1.44 and a beta of 1.61. The business has a 50 day moving average of $50.21 and a 200 day moving average of $53.28. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. GXO Logistics, Inc. has a 1-year low of $46.38 and a 1-year high of $67.57.

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

Insider Buying and Selling at GXO Logistics

In related news, CEO Malcolm Wilson acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average price of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the acquisition, the chief executive officer now owns 100,814 shares in the company, valued at $5,035,659.30. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GXO. Wells Fargo & Company began coverage on shares of GXO Logistics in a research report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and set a $74.00 price target on shares of GXO Logistics in a research report on Wednesday, May 15th. JPMorgan Chase & Co. lowered their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Loop Capital reduced their target price on GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Morgan Stanley restated an “overweight” rating and issued a $70.00 target price on shares of GXO Logistics in a research note on Tuesday, May 14th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.85.

GXO Logistics Company 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.