Raymond James & Associates Acquires 65,534 Shares of GXO Logistics, Inc. (NYSE:GXO)

Raymond James & Associates raised its stake in GXO Logistics, Inc. (NYSE:GXO) by 16.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 466,749 shares of the company’s stock after buying an additional 65,534 shares during the quarter. Raymond James & Associates owned about 0.39% of GXO Logistics worth $24,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Smithfield Trust Co lifted its position in GXO Logistics by 16.5% in the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock valued at $73,000 after acquiring an additional 195 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its holdings in shares of GXO Logistics by 0.5% in the first quarter. Blue Zone Wealth Advisors LLC now owns 46,898 shares of the company’s stock valued at $2,521,000 after purchasing an additional 229 shares in the last quarter. CWM LLC boosted its position in shares of GXO Logistics by 13.8% during the third quarter. CWM LLC now owns 1,961 shares of the company’s stock worth $102,000 after buying an additional 238 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of GXO Logistics by 0.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 44,570 shares of the company’s stock worth $2,251,000 after buying an additional 262 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its position in GXO Logistics by 3.1% in the 1st quarter. Perigon Wealth Management LLC now owns 9,924 shares of the company’s stock valued at $534,000 after buying an additional 301 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Citigroup assumed coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price for the company. UBS Group lowered their price target on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Susquehanna decreased their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus target price of $66.91.

GXO Logistics Stock Performance

GXO opened at $61.96 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 1.52 and a beta of 1.59. GXO Logistics, Inc. has a 12-month low of $46.07 and a 12-month high of $63.33. The business has a 50 day moving average of $52.28 and a 200-day moving average of $51.24.

GXO Logistics (NYSE:GXO) last announced its quarterly 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). GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the business earned $0.70 EPS. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts expect that GXO Logistics, Inc. will post 2.79 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.