Principal Financial Group Inc. Reduces Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Principal Financial Group Inc. reduced its position in GXO Logistics, Inc. (NYSE:GXO) by 30.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,408 shares of the company’s stock after selling 121,156 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of GXO Logistics worth $14,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GXO. DekaBank Deutsche Girozentrale bought a new position in GXO Logistics in the 3rd quarter worth approximately $28,000. UMB Bank n.a. raised its stake in shares of GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after purchasing an additional 331 shares during the period. Signaturefd LLC lifted its holdings in GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after purchasing an additional 249 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in GXO Logistics by 37.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after buying an additional 282 shares in the last quarter. Finally, Mather Group LLC. boosted its position in shares of GXO Logistics by 170.7% in the second quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock valued at $60,000 after acquiring an additional 700 shares during the period. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Performance

NYSE:GXO opened at $58.65 on Friday. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 65.17, a PEG ratio of 1.82 and a beta of 1.55. The business has a 50 day moving average of $56.06 and a 200 day moving average of $52.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics, Inc. has a 1-year low of $46.07 and a 1-year high of $63.33.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The company’s quarterly revenue was up 27.8% 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GXO. Barclays upped their target price on shares of GXO Logistics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday. Citigroup began coverage on GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Susquehanna decreased their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. UBS Group lifted their price target on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, TD Cowen boosted their price objective on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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.