Clearbridge Investments LLC Has $143.34 Million Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Clearbridge Investments LLC trimmed its holdings in GXO Logistics, Inc. (NYSE:GXO) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,838,314 shares of the company’s stock after selling 118,667 shares during the period. Clearbridge Investments LLC owned about 2.38% of GXO Logistics worth $143,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Creative Planning lifted its position in GXO Logistics by 34.6% in the 2nd quarter. Creative Planning now owns 12,700 shares of the company’s stock valued at $641,000 after acquiring an additional 3,262 shares in the last quarter. Algert Global LLC raised its stake in shares of GXO Logistics by 47.3% in the second quarter. Algert Global LLC now owns 37,441 shares of the company’s stock worth $1,891,000 after purchasing an additional 12,021 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of GXO Logistics by 537.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 137,732 shares of the company’s stock valued at $6,955,000 after purchasing an additional 116,125 shares in the last quarter. Millennium Management LLC boosted its position in shares of GXO Logistics by 105.5% during the second quarter. Millennium Management LLC now owns 487,200 shares of the company’s stock valued at $24,604,000 after buying an additional 250,113 shares during the last quarter. Finally, Daymark Wealth Partners LLC bought a new stake in GXO Logistics during the second quarter worth $309,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GXO has been the topic of several recent analyst reports. Wells Fargo & Company began coverage on GXO Logistics in a research note on Friday, June 7th. They set an “overweight” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. UBS Group cut their price target on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Susquehanna decreased their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.27.

GXO Logistics Trading Down 2.6 %

NYSE:GXO opened at $50.71 on Wednesday. GXO Logistics, Inc. has a 12 month low of $46.07 and a 12 month high of $63.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $50.32 and its 200 day moving average is $50.58. The stock has a market capitalization of $6.06 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.58.

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