PNC Financial Services Group Inc. Lowers Holdings in GXO Logistics, Inc. (NYSE:GXO)

PNC Financial Services Group Inc. lowered its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 34.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 19,391 shares of the company’s stock after selling 10,361 shares during the period. PNC Financial Services Group Inc.’s holdings in GXO Logistics were worth $844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GXO. KBC Group NV raised its position in GXO Logistics by 18.6% during the third quarter. KBC Group NV now owns 3,665 shares of the company’s stock valued at $191,000 after acquiring an additional 576 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of GXO Logistics by 15.0% during the 3rd quarter. Natixis Advisors LLC now owns 17,591 shares of the company’s stock worth $916,000 after purchasing an additional 2,288 shares during the period. Mount Lucas Management LP increased its holdings in shares of GXO Logistics by 2.4% during the 3rd quarter. Mount Lucas Management LP now owns 7,327 shares of the company’s stock valued at $382,000 after purchasing an additional 173 shares in the last quarter. Global Alpha Capital Management Ltd. acquired a new position in shares of GXO Logistics in the 3rd quarter valued at $32,434,000. Finally, Primecap Management Co. CA boosted its holdings in GXO Logistics by 0.9% during the third quarter. Primecap Management Co. CA now owns 229,500 shares of the company’s stock worth $11,950,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GXO. Wells Fargo & Company cut their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, February 14th. UBS Group reduced their price target on GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 14th. Oppenheimer lowered their price target on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley cut their price objective on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Loop Capital lowered GXO Logistics from a “buy” rating to a “hold” rating and decreased their target price for the company from $71.00 to $49.00 in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.60.

GXO Logistics Stock Performance

GXO opened at $41.26 on Tuesday. GXO Logistics, Inc. has a twelve month low of $34.51 and a twelve month high of $63.33. The firm has a market capitalization of $4.93 billion, a PE ratio of 36.83, a PEG ratio of 1.34 and a beta of 1.62. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $42.01 and its 200 day moving average price is $49.37.

GXO Logistics (NYSE:GXO) last issued its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. As a group, sell-side analysts expect that GXO Logistics, Inc. will post 2.49 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.