Principal Financial Group Inc. Trims Position in GXO Logistics, Inc. (NYSE:GXO)

Principal Financial Group Inc. lessened its stake in GXO Logistics, Inc. (NYSE:GXO) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 397,564 shares of the company’s stock after selling 50,171 shares during the period. Principal Financial Group Inc. owned 0.33% of GXO Logistics worth $20,077,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bayberry Capital Partners LP increased its stake in GXO Logistics by 46.9% in the 4th quarter. Bayberry Capital Partners LP now owns 238,000 shares of the company’s stock worth $14,556,000 after buying an additional 76,000 shares during the period. Retirement Systems of Alabama increased its position in GXO Logistics by 6.1% during the 1st quarter. Retirement Systems of Alabama now owns 318,034 shares of the company’s stock valued at $17,098,000 after purchasing an additional 18,184 shares during the period. George Kaiser Family Foundation purchased a new position in GXO Logistics during the 1st quarter valued at about $1,014,000. Fort Pitt Capital Group LLC increased its position in GXO Logistics by 60.4% during the 1st quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock valued at $99,647,000 after purchasing an additional 698,180 shares during the period. Finally, Swedbank AB increased its position in GXO Logistics by 15.9% during the 2nd quarter. Swedbank AB now owns 1,825,000 shares of the company’s stock valued at $92,162,000 after purchasing an additional 250,000 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Down 2.4 %

GXO stock opened at $48.84 on Wednesday. The firm has a 50 day moving average of $50.64 and a 200 day moving average of $50.66. The stock has a market capitalization of $5.83 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 1.50 and a beta of 1.60. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $64.91.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. Sell-side analysts forecast that GXO Logistics, Inc. will post 2.79 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Malcolm Wilson bought 10,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the purchase, the chief executive officer now directly owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GXO shares. Wells Fargo & Company started coverage on shares of GXO Logistics in a research report on Friday, June 7th. They set an “overweight” rating and a $58.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and set a $70.00 target price on shares of GXO Logistics in a research report on Tuesday, May 14th. TD Cowen raised 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. JPMorgan Chase & Co. raised their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 price objective on shares of GXO Logistics in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and a consensus price target of $67.45.

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.