Commonwealth Equity Services LLC Sells 2,557 Shares of GXO Logistics, Inc. (NYSE:GXO)

Commonwealth Equity Services LLC lowered its holdings in GXO Logistics, Inc. (NYSE:GXO) by 20.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,105 shares of the company’s stock after selling 2,557 shares during the quarter. Commonwealth Equity Services LLC’s holdings in GXO Logistics were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GXO. Swedbank AB bought a new stake in GXO Logistics during the first quarter valued at about $84,672,000. Norges Bank purchased a new position in GXO Logistics during the 4th quarter worth $65,002,000. Fort Pitt Capital Group LLC grew its stake 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 worth $99,647,000 after buying an additional 698,180 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in GXO Logistics by 307.5% during the 1st quarter. Motley Fool Asset Management LLC now owns 648,532 shares of the company’s stock valued at $34,865,000 after purchasing an additional 489,369 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of GXO Logistics by 127.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 554,731 shares of the company’s stock valued at $29,822,000 after buying an additional 311,168 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GXO. Wells Fargo & Company began coverage on GXO Logistics in a report on Friday, June 7th. They issued an “overweight” rating and a $58.00 price target for 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 note on Tuesday, July 9th. Finally, UBS Group reduced their price objective on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.45.

GXO Logistics Price Performance

NYSE:GXO opened at $51.55 on Friday. GXO Logistics, Inc. has a 12 month low of $46.07 and a 12 month high of $63.07. The company’s 50-day moving average price is $50.74 and its two-hundred day moving average price is $50.45. The firm has a market cap of $6.16 billion, a PE ratio of 37.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.58. 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 (NYSE:GXO) last announced its earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $2.85 billion for 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 business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. On average, equities analysts anticipate that GXO Logistics, Inc. will post 2.79 EPS for the current fiscal 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.