Douglas Lane & Associates LLC Has $23.39 Million Position in GXO Logistics, Inc. $GXO

Douglas Lane & Associates LLC lowered its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 480,301 shares of the company’s stock after selling 9,135 shares during the quarter. Douglas Lane & Associates LLC’s holdings in GXO Logistics were worth $23,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in GXO Logistics by 13.7% during the first quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company’s stock worth $674,000 after buying an additional 2,076 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in GXO Logistics by 2.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company’s stock worth $1,512,000 after buying an additional 886 shares in the last quarter. KBC Group NV boosted its stake in GXO Logistics by 20.0% during the first quarter. KBC Group NV now owns 5,821 shares of the company’s stock worth $227,000 after buying an additional 969 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of GXO Logistics by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 274,832 shares of the company’s stock valued at $10,740,000 after purchasing an additional 831 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GXO shares. Oppenheimer boosted their target price on shares of GXO Logistics from $55.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Truist Financial upgraded shares of GXO Logistics from a “hold” rating to a “buy” rating and boosted their target price for the company from $48.00 to $62.00 in a research note on Friday, July 11th. Stifel Nicolaus boosted their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. UBS Group boosted their target price on shares of GXO Logistics from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company upped their price target on shares of GXO Logistics from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

GXO Logistics Stock Down 0.9%

Shares of NYSE GXO opened at $51.08 on Friday. The firm’s 50-day simple moving average is $51.53 and its 200 day simple moving average is $44.01. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 96.37, a price-to-earnings-growth ratio of 2.07 and a beta of 1.65. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. The business had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, research analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

GXO Logistics Company 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.